BENSALEM, PA--(Marketwired - May 28, 2013) - Precision Aerospace Components, Inc. (
On May 25, 2012, Precision Aerospace Components, Inc. completed its acquisition of the assets of Fastener Distribution and Marketing Company, Inc., which included Aero-Missile Components, Inc. and Creative Assembly Systems, Inc.
Aero-Missile Components, founded in 1986, is a recognized leader in the military and aerospace fastener fields, supporting many government agencies along with prime contractors and their subcontractors. Aero-Missile Components has been named the Master Distributor by SPS Technologies for its FLEXLOC® Locknut product line toward the end of last year. The FLEXLOC® Locknut is a premium locknut line used in military, aerospace and industrial applications. Creative Assembly Systems offers a full line of industrial products, specializing in fasteners required for production and production support products, including cutting tools, abrasives, lubricants, sealants, safety supplies and storage equipment.
"The acquisition of Fastener Distribution and Marketing Company, which we completed almost one year ago today, provided Precision Aerospace Components with two very valuable operations which were complimentary to our existing operations," stated Andy Prince, President and CEO of Precision Aerospace Components. "Both of these businesses have been successfully integrated into our ongoing business operations and have made significant contributions to our top and bottom lines. We have also gained another significant benefit from this transaction in that they have helped us gain access to a wide variety of new customer opportunities. We will continue to look at other acquisitions which would be a good strategic fit for our current operations."
About Precision Aerospace Components Inc. (
Forward Looking Statement: This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to trends in the domestic and global economy, our ability to attract new and retain existing customer relationships, acquisitions and integration of acquired entities, availability of capital to support our operations and acquisition strategy, our ability to maintain and improve accounting information systems in a manner sufficient to service our revenues and operating locations, outcomes of legal proceedings, competition, management of growth, potential fluctuations in operating results, and government regulation. More information about factors that potentially could affect Precision Aerospace Components, Inc. financial results is included in Precision Aerospace Components, Inc. filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.
Contact Information Investor relations Hanover Financial Services Ronald Blekicki 303-494-3617 contact@hanoverfinancialservices.com
