STANLEY J. HILL TO JOIN FIRST AVIATION SERVICES INC.
BOARD OF DIRECTORS
WESTPORT, CONNECTICUT - November 30, 2000 - First Aviation Services Inc.
(NASDAQ: FAVS) today announced that Stanley J. Hill will join its Board of
Directors effective December 12, 2000.
Mr. Hill recently retired as President, CEO and Chairman of Kaiser Aerospace and
Electronics Corporation and its parent, K Systems, Inc. Kaiser Aerospace is a
major supplier of cockpit avionics, flight control actuators and electro-optical
systems for a variety of military and commercial aircraft. Mr. Hill successfully
led an initiative intended to sell or merge Kaiser Aerospace into a larger, more
diversified entity with the announced sale of K Systems, Inc. to Rockwell
Collins, Inc. which is expected to close by year-end.
During his career, Mr. Hill also served with United Technologies Corporation and
Harris Corporation in a variety of engineering, program management and business
development positions.
Mr. Hill holds a Bachelor of Science Degree in Mechanical Engineering from the
University of Maine, a Master of Engineering Degree from the University of
Connecticut and also completed postgraduate work at the University of Santa
Clara. Mr. Hill is an instrument rated commercial pilot.
Commenting on the appointment, Aaron P. Hollander, Chairman of the Board of
First Aviation noted, "We are honored to have someone of Stan Hill's stature and
outstanding record of
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achievement and experience in the aviation industry join our Board. He brings
excellent leadership qualities, along with a wealth of knowledge and relevant
business experience in the aviation field. We welcome him to our board and look
forward to his participation in helping guide First Aviation's future."
Mr. Hill will replace Mr. Joshua S. Friedman, who completed an extended term as
a director. Mr. Hollander said "On behalf of the Board of Directors and the
Company, I thank Mr. Friedman for his invaluable contributions to the success of
First Aviation Services. We appreciate the wisdom and guidance he has provided
over the last five years."
About First Aviation
--------------------
First Aviation, located in Westport, Connecticut is a worldwide leader in
providing services to aircraft operators of some of the most widely used
military, commercial and general aviation aircraft. Its operations include
Aerospace Products International (API) and AeroV Inc. (AeroV). API, based in
Memphis, Tennessee, is a leader in the supply of aerospace products and services
worldwide. In addition to the product lines it distributes, API offers logistics
services and overhaul and repair services for brakes and starter/generators and
builds custom hose assemblies. With locations in the U.S., Canada and Asia
Pacific, plus global partners throughout the world, API continues to be the
fastest growing supplier of aviation products and inventory management solutions
in the industry. AeroV, based in Westport, Connecticut, is a mission-critical
procurement platform developed exclusively for the aerospace industry that
delivers value to every user, providing a practical tool for capturing the
benefits of e-commerce without disrupting current business practices and
processes. The AeroV System integrates with legacy systems, giving every company
the ability to communicate using full SPEC 2000 and ANSI X.12 messaging without
costly set-up fees or downtime.
More information about First Aviation can be found on the world-wide web at
www.firstaviation.com, www.apiparts.com, www.aerov.com.
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Forward-Looking Statements
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Information included in this release may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not statements of historical facts, but rather
reflect the Company's current expectations concerning future events and results.
Such forward-looking statements, including those concerning the Company's
expectations, involve known and unknown risks, uncertainties and other factors,
some of which are beyond the Company's control, that may cause the Company's
actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. In evaluating such
statements as well as the future prospects of the Company, specific
consideration should be given to various factors, including the Company's
ability to obtain parts from its principal suppliers on a timely basis, market
conditions, the ability to consummate suitable acquisitions, and other items
that are beyond the Company's control and may cause actual results to differ
from management's expectations.
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Contact: John A. Marsalisi
Vice President & Chief Financial Officer
First Aviation Services Inc.
(203) 291-3303
[email protected]
