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Monday, June 11, 2001 For Immediate Release GLYNN WILLIAMS ANNOUNCES THE FORMATION OF RELIANCE AEROTECH CANADA INC. Toronto, Ontario – Glynn Williams today announced the formation of Reliance Aerotech Canada Inc. to provide strategic management services to the Reliance Aerotech group of companies and to bring Reliance Aerotech's maintenance, repair, and overhaul (MRO) services to Canada's growing regional commercial aviation market. Williams will serve as chairman and chief executive. Williams, a founder and managing director of Newcrest Capital Inc. was looking for a new entrepreneurial challenge after Newcrest's sale in the fall of 2000 to TD Securities Inc. and turned to his lifelong passion for aviation in seeking inspiration. "The sale of Newcrest provided me with a unique opportunity to re-evaluate where I wanted to take my life over the next decade," said Williams in announcing his new venture. "I had spent the past five years building Newcrest and the past 20 years of my life working with several investment companies at the corner of King and Bay. I just thought it was time to move in a direction that would integrate my experiences and education in a new and exciting way." A registered pilot, Williams has had a lifelong interest in flying and airplanes. With Masters degrees in both engineering and business from the University of Toronto, the commercial MRO business, which provides mechanical and technical services for commercial air transport fleet operators, was a natural place to put his entrepreneurial talents to work. "The commercial MRO business continues to undergo significant growth and is projected to reach almost $36 billion globally by 2004," said Williams in discussing the economic impact of the sector. "With tremendous growth in the regional commercial aviation market – an area in which Canada excels – Reliance Aerotech is positioned to grow significantly. Our goal is to be the leading independent MRO organization in North America serving the regional commercial and business aviation markets." Reliance Aerotech Services Inc. offers technical support, including
on-site maintenance, system installations, customer technical support,
logistics and consulting to some of the leading names in aviation. |
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