SUN VALLEY, Calif.---Hawker Pacific Aerospace announced today that it has retained the aerospace investment banking team of First Union Securities, including its mergers and acquisitions group (formerly Bowles Hollowell Conner), to advise the Company's Board of Directors on alternatives for maximizing shareholder value.
Dan Lubeck, the Company's chairman, stated, "We believe Hawker is the finest landing gear shop in the world. The Company has accomplished a great deal with the continuing record performance of its Sun Valley facility, and the now moved and integrated state-of-the-art United Kingdom facility. Based in part on the number of unsolicited inquiries it has received, the Board believes that the time is right to explore alternatives for fully realizing the Company's potential.''
Hawker Pacific Aerospace is a leading provider of landing gear maintenance services. The Company operates with facilities in Los Angeles, London and Amsterdam, and employs 450 personnel. The Company recently released third quarter results of $23.5 million in revenue, and $0.11 EPS. The Company's stock trades on the Nasdaq National Market under the symbol HPAC.
Hawker Pacific Aerospace repairs and overhauls aircraft and helicopter landing gear, hydromechanical components, wheels, brakes and braking systems for a diverse international customer base, including major commercial airlines, air cargo operators, domestic government agencies, aircraft leasing companies, aircraft parts distributors and OEMs.