Precision Castparts Corp.

Air Industries Group Receives Two Strategically Important New Contracts from New Customers

Retrieved on: 
星期二, 一月 23, 2024

Air Industries has received an initial order for structural engine nacelle components for the new CH-53K Heavy Lift Helicopter.

Key Points: 
  • Air Industries has received an initial order for structural engine nacelle components for the new CH-53K Heavy Lift Helicopter.
  • Separately, Air Industries has received an order from a major landing gear manufacturer for actuator subassemblies on a developmental aircraft.
  • Mr. Lou Melluzzo, CEO of Air Industries, commented: “These awards are very satisfying and result from our increased investment and efforts in business development.
  • It is a tribute to Air Industries that this World Class OEM has placed its trust in us.

Air Industries Group Subsidiary Sterling Engineering Corporation Receives $3.2M in New Contracts

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星期三, 一月 3, 2024

Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that its Sterling Engineering Corporation (Sterling) subsidiary has received two contracts totaling approximately $3.2 million.

Key Points: 
  • Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that its Sterling Engineering Corporation (Sterling) subsidiary has received two contracts totaling approximately $3.2 million.
  • Sterling Engineering has been awarded two contracts for engine components used in the F-135 jet engine that powers the Lockheed Martin F-35 Lightning II.
  • Mr. Lou Melluzzo, CEO of Air Industries, commented: “These awards continue what has been a very strong increase in business at Sterling Engineering.
  • The increase in backlog, together with these new contracts confirm Sterling’s ability to increase its revenue and return to profitability.”

Air Industries Group Announces CFO Transition

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星期四, 十月 19, 2023

Air Industries Group (NYSE American: AIRI) today announced the promotion of Scott Glassman to Chief Financial Officer, Principal Accounting Officer and Secretary of the Company and its subsidiaries.

Key Points: 
  • Air Industries Group (NYSE American: AIRI) today announced the promotion of Scott Glassman to Chief Financial Officer, Principal Accounting Officer and Secretary of the Company and its subsidiaries.
  • Mr. Recca will remain with Air Industries focusing on special projects related to the Company’s growth plans in the aerospace sector, while also working with Mr. Glassman to ensure a seamless transition of CFO responsibilities.
  • Mr. Lou Melluzzo, CEO of Air Industries, commented: “I speak for the whole Air Industries family in saying that we are very pleased to have Scott Glassman become our new CFO; he has earned the promotion in spades.
  • A good CFO is a CEO’s right hand and I personally can’t be thankful enough for the dedication of both Scott and Mike to the whole Air Industries family.

Air Industries Group Adds Important Arresting Gear Welding Capability to Support U.S. Navy E-2D Aircraft Program

Retrieved on: 
星期五, 九月 8, 2023

The Company noted that this machinery is the only equipment currently certified to weld the arresting gear.

Key Points: 
  • The Company noted that this machinery is the only equipment currently certified to weld the arresting gear.
  • View the full release here: https://www.businesswire.com/news/home/20230908950070/en/
    The equipment is being installed at Air Industries’ Sterling Engineering facility in Connecticut.
  • Mr. Lou Melluzzo, CEO of Air Industries, commented: “With the addition of the arresting gear welding equipment, Air Industries will become the sole provider in our industry of a mission-critical welding process for the E-2D platform.
  • For many years, our Company has supplied landing gear, arresting gear, hooks, and other products for this platform.

Arconic Names Chris Ayers CEO and Chairman of the Board

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星期五, 八月 25, 2023

Arconic Corporation (NYSE:ARNC) (“Arconic” or the “Company”) announced today that Chris Ayers will become Chief Executive Officer and Chair of the Board of Arconic, effective September 11, 2023.

Key Points: 
  • Arconic Corporation (NYSE:ARNC) (“Arconic” or the “Company”) announced today that Chris Ayers will become Chief Executive Officer and Chair of the Board of Arconic, effective September 11, 2023.
  • Ayers has served on Arconic’s Board of Directors for the past seven years and held several executive positions in key businesses within the Company’s predecessor, Alcoa, prior to his board role.
  • Current Arconic CEO Tim Myers will continue to serve in an advisory capacity as Arconic’s Lead Outside Director of the Board.
  • Prior to serving on Arconic’s Board of Directors, Ayers was President and Chief Executive Officer of WireCo WorldGroup, Inc., from 2013 through 2017.

Air Industries Group Announces the Appointment of Peter Rettaliata as Chairman of the Board

Retrieved on: 
星期三, 七月 12, 2023

As Chairman, he succeeds Michael Taglich, who will remain on the Board of Directors.

Key Points: 
  • As Chairman, he succeeds Michael Taglich, who will remain on the Board of Directors.
  • Mr. Rettaliata is currently a director of Air Industries and was formerly the Company’s Chief Executive Officer.
  • He has spent 50 years in the aerospace industry and has served as an executive and director of Air Industries for nearly three decades.
  • Prior to joining Air Industries, Mr. Rettaliata was a senior executive of the Grumman Aerospace Corporation for 22 years.

Air Industries Group Receives Two Contracts Totaling $5.2 Million for US Navy E-2D Aircraft and F-35 Joint Strike Fighter Components

Retrieved on: 
星期二, 七月 11, 2023

The first order is valued at $2.0 million for E-2D arresting gear components.

Key Points: 
  • The first order is valued at $2.0 million for E-2D arresting gear components.
  • The order originates from a long-time customer of Air Industries Group, which has manufactured these flight safety components for many years.
  • The second order is valued at $3.2 million for F-35 arresting gear components for the CV and CTOL versions of the aircraft.
  • Mr. Lou Melluzzo, CEO of Air Industries, commented: “We are very pleased to have received two sizeable orders for mission-critical components.

Air Industries Group Announces Financial Results for the Three Months Ended March 31, 2023

Retrieved on: 
星期一, 七月 10, 2023

Consolidated net sales for the three months ended March 31, 2023 were $12.5 million, an increase of $487,000 or 4.0% from the first quarter of 2022.

Key Points: 
  • Consolidated net sales for the three months ended March 31, 2023 were $12.5 million, an increase of $487,000 or 4.0% from the first quarter of 2022.
  • First quarter 2023 net sales were lower by $1.3 million or (9.7%) compared with sales of $13.9 million reported for the fourth quarter of 2022 ended December 31, 2022.
  • Interest and financing costs for the three months ended March 31, 2023 were $476,000 compared with $323,000 in the first quarter of 2022, and $403,000 for the three months ended December 31, 2022.
  • Lou Melluzzo, CEO of Air Industries Group, said:
    “Air Industries’ results for the first quarter of 2023 continued to reflect the supply chain disruption that has challenged our industry since the onset of the pandemic.

CPI Aerostructures Appoints Aerospace Industry Executive Rick Rosenjack to its Board of Directors

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星期二, 六月 20, 2023

EDGEWOOD, N.Y., June 20, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero" or “Company”)) (NYSE American: CVU) announced that its Board of Directors has appointed Rick Rosenjack as a new independent member of the Board effective immediately.

Key Points: 
  • EDGEWOOD, N.Y., June 20, 2023 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. ("CPI Aero" or “Company”)) (NYSE American: CVU) announced that its Board of Directors has appointed Rick Rosenjack as a new independent member of the Board effective immediately.
  • As a result of this appointment, CPI Aero has filled one of its two vacant Class II director seats.
  • Mr. Rosenjack, 64, brings to CPI Aero 38 years of aerospace experience, and has twice led multi-site, international businesses with $1 billion in annual revenue.
  • Mr. Rosenjack earned a BS degree from Bethel University and an MBA degree from Vanderbilt University’s Owen Graduate School of Management.

FreightCar America, Inc. Announces Appointment of Nicholas J. Randall as Chief Operating Officer

Retrieved on: 
星期四, 五月 18, 2023

CHICAGO, May 18, 2023 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (Nasdaq: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer of railroad freight cars, announced today the appointment of Nicholas J. Randall as the Company’s Chief Operating Officer (COO), effective June 26, 2023.

Key Points: 
  • CHICAGO, May 18, 2023 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (Nasdaq: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer of railroad freight cars, announced today the appointment of Nicholas J. Randall as the Company’s Chief Operating Officer (COO), effective June 26, 2023.
  • Randall will report to James R. Meyer, President and Chief Executive Officer.
  • “I am thrilled to welcome Nick to the FreightCar America team as our Chief Operating Officer.
  • He is an accomplished business leader with deep and global experience in the heavy durable industrial and consumer industries.