Printer Friendly

AVIALL, INC. IS SPUN OFF FROM RYDER SYSTEM AS INDEPENDENT AVIATION SERVICES COMPANY

 DALLAS, Dec. 6 /PRNewswire/ -- The $1.172 billion aviation services business of Ryder System (NYSE: R) is being spun off tomorrow into an independent worldwide aviation services company named Aviall, it was announced by Marshall B. Taylor, president and chief executive officer of Aviall, Inc. (NYSE: AVL). The aviation companies most recently operated in the marketplace as Ryder Aviall, Ryder Airline Services and Inventory Locator Service (ILS).
 As part of the spin-off process, Ryder's stockholders also became Aviall stockholders. For every four shares of Ryder stock, one share of Aviall stock was distributed.
 "This spin-off will enable us to chart our course in pursuing strategic opportunities, which will benefit Aviall's customers, employees and stockholders," Taylor said.
 Aviall's mission is to provide high quality turbine engine, components and accessories repair and overhaul to the worldwide commercial aviation market and to provide high quality parts distribution services and inventory information services to all segments of the aviation market.
 "There are many factors which will contribute to the success of the new company," Taylor said. "First, Aviall is in a strong competitive position as the leader in third party support services for airline engine repair and overhaul and distribution of aviation parts. Second, we are focused on the fastest growing market segments. Furthermore, the continued outsourcing by major airlines creates significant new opportunities for us. We also provide greater flexibility and responsiveness to customers, and are noted for our dedicated and talented employees."
 M. Anthony Burns, chairman, president and chief executive officer of Ryder System, said, "Both companies will now be more focused, with Ryder focusing on highway transportation services and Aviall focusing on aviation services."
 -0- 12/6/93
 /NOTE TO EDITORS: Aviall is the leading independent international provider of aviation turbine engine overhaul and repair services, and is the leading distributor of aviation parts for airlines and general aviation operators throughout the world. Aviall is also a leading provider of component and accessory repair services to the aviation industry. These aviation companies reported revenue of $1.2 billion as part of Ryder in 1992./
 /CONTACT: Thomas A. Jones of Aviall, 214-406-2353/
 (AVL R)


CO: Ryder System; Aviall, Inc. ST: Texas IN: AIR SU:

MP -- NY032 -- 0724 12/06/93 11:16 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 6, 1993
Words:371
Previous Article:SYNTREX TECHNOLOGIES EXPANDS SUPPORT PROGRAMS; LOTUS NOTES SUPPORT CRITICAL TO CUSTOMER'S BUSINESS SUCCESS
Next Article:GROWTH COMPANY CEOs PLAN MAJOR BUSINESS INVESTMENTS, COOPERS & LYBRAND'S 'TRENDSETTER BAROMETER' FINDS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters