Aerospace / Defense
Astronics Corp Announces Extension Of Agreement To Acquire PECO Inc.
Astronics Corporation announced that it has mutually agreed with PECO Inc. (PECO) to extend the closing date of the acquisition to August 9, 2013, pending completion of customary closing items. Astronics previously announced on May 28 that it had entered into a definitive agreement to acquire the outstanding shares of PECO for approximately $136 million in cash.
Gor'kovskiy zavod apparatury svyazi im A. S. Popova OAO Announces No FY 2012 Dividends; Appoints Auditor-SKRIN
SKRIN reported that Gor'kovskiy zavod apparatury svyazi im A. S. Popova OAO has decided to distribute no dividends for the fiscal year 2012. The Company has also appointed Gruppa Finansy ZAO as its auditor.
Air Industries Group Inc Announces Acquisition
Air Industries Group Inc announced that it has acquired certain assets and the business of Decimal Industries (Decimal) of Copiague, Long Island, New York. Decimal is a long established Long Island based manufacturer of aerospace components whose customers include major aircraft component suppliers. Decimal specializes in aerostructure products including welded and brazed chassis structures housing electronics, radars, and avionics in aircraft. Decimal's business will become a division of the Company's Welding Metallurgy, Inc (WMI) subsidiary. The two principals of Decimal will join Air Industries to aid in the transition. Decimal's current facility has been leased for one year. It is anticipated that the Decimal operations will be relocated to the Company's facility in Hauppauge, New York. As part of the Decimal acquisition Air Industries also agreed with PNC Bank to restate and amend its loan agreement. This amendment reduces the interest charged by PNC on both the Revolving Credit Line and Term Loan.
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Analyst Research
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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