SOURCE: Air Industries Group

Air Industries Group

September 08, 2015 09:00 ET

Air Industries Group Announces the Acquisition of Compac Development Corporation of Bay Shore, NY

HAUPPAUGE, NY--(Marketwired - Sep 8, 2015) -  Air Industries Group (NYSE MKT: AIRI)

Air Industries Group (Air Industries or the Company) announced today that it has closed the acquisition of Compac Development Corporation (Compac).

Compac, (www.compac-rf.com) located in Bay Shore, New York, specializes in the manufacture of RFI/EMI (Radio Frequency Interference - Electro-Magnetic Interference) shielded enclosures for electronic components. Compac will continue in its current location on Long Island which is within one mile of Air Industries' Complex Machining business segment and within twenty minutes of its Aerostructures and Electronics business segment.

ABOUT AIR INDUSTRIES GROUP
Air Industries Group (AIRI) is an integrated manufacturer of precision equipment assemblies and components for leading aerospace and defense prime contractors. Air Industries operates in three segments: Complex Machining of aircraft landing gear and flight controls, Aerostructures & Electronics, and Turbine Engine Components.

Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and EBITDA, its belief that the slowdown caused by the Sequester is continuing, the ability to realize firm backlog and projected backlog, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Contact Information
    Air Industries Group
    631.881.4913
    Email Contact