Phillips Service Industries Acquires Skytronics Inc.

LIVONIA, Mich., Feb. 21, 2011 -- Phillips Service Industries, Inc. (PSI) (www.psi-online.com), a global manufacturing and service corporation that serves a wide variety of industries with its diverse collection of technology-based companies, announced today that it has acquired Skytronics, Inc. (www.skytronicsinc.com), a leading aircraft component manufacturer and maintenance repair organization located in El Segundo, CA.

Skytronics specializes in the manufacturing, repair, overhaul and sales of aircraft ball screw and actuator assemblies and the transmissions that drive them. Skytronics is an OEM that also holds license parts manufacturing authority on stabilizer ball screws installed on Boeing 727/737/747/757/767 aircraft, as well as a distributor of both new and overhauled aircraft components.

Established in 1956, Skytronics has been an FAA-approved Repair Station for over 50 years, with current FAA, EASA, CAAC and Boeing approvals. Skytronics has expanded its capabilities to include Boeing flight controls, horizontal stabilizer trim actuators (HSTAs), trim tab actuators, flap transmissions and leading-edge actuators. Skytronics also manufactures, repairs, overhauls and sells ignition harnesses, alternators, regulators and ignition lead conduits that are used in general aviation.

The Skytronics acquisition further expands PSI's reach into the aerospace market. Other PSI subsidiaries that serve the aerospace industry include Beaver Aerospace & Defense (www.beaver-online.com), Sciaky, Inc. (www.sciaky.com), Mountain Secure Systems (www.mountainsecuresystems.com), Evana Automation Specialists (www.evana-online.com) and PSI Repair Services (www.psi-repair.com).

"The aerospace industry is very significant to PSI," said Scott Phillips, CEO and President of Phillips Service Industries, Inc. "The Skytronics acquisition provides additional products and services to our valued customers."