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BANNER AEROSPACE ACQUIRES PROFESSIONAL AVIATION ASSOCIATES

 BANNER AEROSPACE ACQUIRES PROFESSIONAL AVIATION ASSOCIATES
 CLEVELAND, Jan. 29 /PRNewswire/ -- Banner Aerospace, Inc. (NYSE: BAR) today announced the purchase of Atlanta-based Professional Aviation Associates, Inc. for an undisclosed amount of cash.
 Professional Aviation Associates supplies aircraft parts and equipment, including rotables, world-wide to the corporate, commuter and general aviation markets.
 Samuel J. Krasney, Banner Aerospace chairman and chief executive officer, said that the acquisition would increase Banner's growth in the corporate aviation market.
 Krasney said that the Professional Aviation Associates acquisition conformed to Banner's pattern of purchasing well-managed, aviation-related businesses with market leadership whose growth can be accelerated by Banner Aerospace management and capital investment.
 Professional Aviation Associates will continue to be directed by its current management headed by Doyle Griggs, president, Thomas J. Chastain, Jr., vice president, and Jerry E. Cox, vice president.
 Cleveland-based Banner is a leading international supplier to the aerospace/aviation industry. Products include avionic, hydraulic and electrical systems, fasteners, bearings and other airframe components. The company also processes insulated electrical wire for the aerospace/ aviation market and sells new and refurbished helicopters and refurbished aircraft and repairs corporate aircraft engines.
 -0- 1/29/92
 /CONTACT: Warren D. Persavich of Banner Aerospace, 216-464-3650/
 (BAR) CO: Banner Aerospace ST: Ohio IN: AIR SU: TNM


LC -- CL021 -- 4890 01/29/92 16:11 EST
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Publication:PR Newswire
Date:Jan 29, 1992
Words:216
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