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BALLISTIC RECOVERY SYSTEMS COMPLETES DIVESTITURE OF CALIFORNIA DEFENSE CONTRACTING UNIT

 BALLISTIC RECOVERY SYSTEMS COMPLETES DIVESTITURE
 OF CALIFORNIA DEFENSE CONTRACTING UNIT
 MINNEAPOLIS, May 18 /PRNewswire/ -- Ballistic Recovery Systems, Inc. announced today the completion of its divestiture of the assets of its California-based Paranetics defense contracting operation. The buyer of the operation is a group represented by BRS' former CEO and Director, Joseph R. Little, of Los Angeles. BRS purchased the assets of Paranetics in February 1989.
 According to Darrell Brandt, BRS' Interim CEO, the divestiture will allow management to focus its efforts on the company's core business. Brandt stated, "Defense contracting requires an orientation which is quite different than our company's historical activities. This move will allow us to concentrate our resources and attention on the development of our sport aviation segment and the attainment of FAA certification for our General Aviation Recovery Device (GARD)."
 BRS designs, manufactures and markets rocket-powered parachute systems worldwide. The company specializes in emergency parachute systems intended to save the lives of pilots and passengers as well as aircraft.
 -0- 5/18/92
 /CONTACT: Boris Popov of Ballistic Recovery Systems, 612-457-7491/ CO: Ballistic Recovery Systems, Inc. ST: Minnesota IN: SU:


KH -- MN008 -- 1357 05/18/92 13:00 EDT
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Publication:PR Newswire
Date:May 18, 1992
Words:193
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