TIMCO Aerosystems Formed as Subsidiary

April 16th, 2007 - TIMCO Aerosystems announced today that it has been formed as a subsidiary of TIMCO, the largest independent provider of MRO and related services in North America. TIMCO Aerosystems officially began operations last week, immediately claiming the market position of being the only independent DAS integrator with both extensive OEM and integration capabilities dedicated to the retrofit commercial aircraft market.

In a related announcement, Rick Salanitri has been named as President of TIMCO Aerosystems. Rick joined TIMCO in 1994, where prior to being named President of the new newly formed subsidiary he served as Senior VP of Engineering & Interior Manufacturing. He has over 17 years of aerospace engineering experience primarily in the commercial sector.

According to Mr. Salanitri, the move to spin-off the engineering operations as a subsidiary was in part made possible by TIMCO's decision to go private late last year. He said, "The leadership team of TIMCO understood that the true benefit of going private was to allow more flexibility in meeting changing customer requirements. One natural outgrowth of that strategy was to create an organization that could still take advantage of the extensive MRO capabilities of TIMCO, when beneficial to our customers, but an organization that focuses entirely its efforts on meeting the interior systems development and integration needs of our customers."

TIMCO Aerosystems is one of a select few companies that can support its customers with everything involved in the interior modification process, starting with state-of-the-art design and engineering to systems and structures manufacture, integration and certification. Typical projects taken on by the company include interior reconfigurations, flight avionics retrofits, freighter conversions, mechanical system changes, STC development, airframe structural modifications, and kitting services. Interior systems include seats, IFE systems, galleys, lavs, closets, bins, ceiling panels, and other structures.