Miami, FL and Los Angeles, CA (April 19, 2004) AeroThrust Corporation and its parent company, Windstar Capital LLC, today announced the appointment of Garry Failler as VP Engineering, Quality and Business Development, and Rob Conrad as VP Engine Sales and Leasing of AeroThrust.
Faryt Kalhil, President of AeroThrust, commented on the appointments: “AeroThrust is the world’s low cost producer of JT8D overhauls, with costs 30% less than our major competitors and turn times less than 30 days. Garry Failler will take a leading role in extending our competitive edge, particularly as we expand our CFM56 capabilities, as he moves over from his position as VP Sales at AeroThrust. Rob Conrad is a leading figure in the engine trading world, and we welcome him back to AeroThrust where he will make us once again a dominant participant in this marketplace. I also want to take this opportunity to thank Tom Johnson, who is retiring as VP Engineering and Quality, for the outstanding job he has done for AeroThrust for many years.”
Separately, AeroThrust also announced that it has settled all litigation with Saab AB and related parties, arising from the acquisition of AeroThrust by Windstar in November, 2001, on terms satisfactory to all parties. The terms of the settlement are subject to a confidentiality agreement.
Jack Risko, CEO of AeroThrust and President of Windstar, had the following comments on AeroThrust’s prospects: “We are extremely gratified with AeroThrust’s position today. With its outstanding balance sheet and business prospects, AeroThrust looks forward to taking advantage of the many opportunities in the current aerospace marketplace. AeroThrust is by far the leader in quality, price and turn time in the markets it serves, and we look forward to extending that lead through internal expansion and by acquisition. The AeroThrust team is doing an outstanding job, and we look forward to the addition of Garry’s and Rob’s leadership in their respective areas.”
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AeroThrust (www.aerothrust.com) is the largest independent company in the United States of America specializing in the maintenance of the Pratt & Whitney JT8D family of jet aircraft engines. Saab AB, a leading international defense and aerospace company publicly traded on the Stockholm and other European exchanges, is one of Sweden’s largest companies.
Contacts:
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AeroThrust Corporation
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Windstar Capital LLC
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5300 NW 36th Street
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10940 Wilshire Boulevard, Suite 1600
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Miami, FL 33152
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Los Angeles, CA 90024
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Marlene Hernandez, CFO
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Violeta Valkova, Associate
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305-526-7331
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310-443-4201
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marleneh*AT*aerothrust*DOT*com
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vvalkova*AT*windstarcapital*DOT*net
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