Operations & Maintenance
Published: March 21, 2012
CPI Aerostructures reported full-year revenue of $ 74.14 million in 2011, up 68.5% over the prior year’s revenue of $ 43.99 million. Net income reached $ 7.42 million, compared to $ 542K in 2010. Revenue generated from commercial contracts increased by 35% to approximately $ 10.2 million.
PPG Industries announced its aerospace transparencies group has created kits for repairing commercial aircraft windshield moisture seals on “various commercial aircraft.”
Engineering LLC, a Russian based MRO holding company, has agreed to acquire Bend, Oregon-based Epic Aircraft. Epic Aircraft CEO Douglas King will retain his position. Engineering LLC specializes in line and base maintenance and C checks for Airbus, Boeing, ATR and Bombardier-type aircraft.
Pemco World Air Services has voluntarily filed Chapter 11 to facilitate its restructuring. The company said it “expects to quickly restructure and emerge as a stronger and more viable business,” and expects to emerge from bankruptcy within the next 90 days.