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AAI Acquisition, Inc. announces search for strategic partner

AAI Acquisition, Inc. (AAIA) announced today it is seeking a strategic partner to continue the growth of the company.

Steve Patrick, Vice President of Business Development, said the company has been successfully marketing its design and manufacturing services to customers in the aerospace and custom automotive industries since late last year and is now ready to expand through new investment.

"As we continue to develop this aspect of AAIA," Patrick said, "it is now appropriate to seek new investment partners. Based on our initial efforts, we are building a viable business base for our engineering solutions and services while retaining the option to re-launch the A700 business jet."

Until last fall, AAIA was primarily involved in developing and marketing the all-composite A700 business aircraft. In November, AAIA announced a strategic review of the business in response to changing global economic conditions.

AAIA's portfolio includes aerospace design capabilities spanning composite applications to avionics/electrical STC support to rapid reaction fabrication capability.

Principal targets for this initiative include the aerospace and custom automotive sectors as well as organizations that could benefit from the application of cutting edge, proven composite design and manufacturing skills using low cost, out-of-autoclave methods that AAIA perfected while developing the A700 business jet.

Designed for the business aircraft and emerging air taxi markets, the A700 is a twin-engine jet with a maximum cruising speed of greater than 340 knots. It will seat seven, including the pilot, and cruise at altitudes up to FL410.

In addition to developing the A700, AAIA had previously designed and certified the A500 piston twin, another all-composite aircraft. In developing these aircraft, AAIA has become highly experienced in composite product design and construction using modern Computer Assisted Design (CAD) modeling and semi-automated out-of-autoclave manufacturing techniques. A detailed listing of their skills and capabilities is located at http://www.aaiacquisition.com.

Press release issued by on February 2, 2009

 

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