Friday, March 1,
RELIANCE AEROTECH ANNOUNCES ACQUISITION OF NASHVILLE OPERATIONS
OF CELSIUS AEROTECH INC. BY EMBRAER
Nashville, TN Reliance Aerotech
Inc. announced today that Embraer Aircraft Maintenance Services,
Inc. has acquired the Nashville operating assets of Celsius Aerotech
Inc., a wholly owned subsidiary of Reliance Aerotech, completing
the transaction announced in January. Celsius Aerotech is widely
regarded as a leader within the regional aviation maintenance,
repair and overhaul industry.
The Nashville operating assets will operate as Embraer Aircraft
Maintenance Services, Inc., a wholly owned subsidiary of Embraer
Aircraft Holding, Inc.
Celsius Aerotech will continue to provide repair and overhaul services
to the regional and corporate aviation markets through it's Furst
Aircraft and Instrument division in Teterboro, New Jersey, regarded
as one of North America's premier instrument repair and overhaul
facilities that also purchases and sell excess aircraft inventories.
In making the announcement, Glynn Williams, Chairman and CEO of
Reliance Aerotech Inc. stated, "We are delighted to have a leading
aerospace corporation such as Embraer acquire our Nashville operating
assets. Embraer's commitment to continue to serve our current customers
and add new customers through the incorporation of new facilities
as required is a positive development for our employees, our valued
customers and the City of Nashville."
Mauricio Botelho, Embraer's President and CEO stated, "We are
extremely pleased that the acquisition of the assets of Celsius Aerotech
Inc, was completed on schedule. The new business allows us the opportunity
to better serve our customers in the United States. The Nashville
operation will expand the scope of our service offerings in support
of the airline and corporate markets".
Reliance Aerotech, through the Team Reliance group of companies,
continues to operate Furst Aircraft and Instrument, a FAA/JAA certified
repair station in Teterboro, NJ; Reliance Aerotech Atlantic Inc.,
a Class 3 FAR 145 repair station in Myrtle Beach, SC; Reliance Aerotech
Services Inc., an aviation personnel services organization in Nashville,
TN; as well as an aviation services management consulting and merchant
banking practice in Toronto, Canada.
Embraer Aircraft Maintenance Services, Inc. is a wholly owned indirect
subsidiary of Empresa Brasileira de Aeronautica S.A., of Brazil,
the world's fourth largest commercial aircraft manufacturer.