Sale of Field Aviation subsidiary, Navair Inc.
Feb. 10, 2009, Toronto - John Mactaggart, president and CEO of Field
Aviation Company inc., announced the sale of Navair Inc, a Field
Aviation subsidiary company.
Feb. 10, 2009, Toronto – John Mactaggart, president and CEO of Field Aviation Company inc., announced the sale of Navair Inc, a Field Aviation subsidiary company. Control of Navair will be assumed by its current general manager, Mike Espeut and his business partner, John Raposo, through an asset purchase agreement. This transaction is effective January 30, 2009.
The name Navair has long been associated with Field Aviation. For many years it was the avionics division of Field Aviation East in Toronto, before the aircraft-related business activities were integrated into Field Aviation East. Later, Navair became a separate subsidiary company, concentrating on its role as a leading supplier of test and measurement products and services to the communications industry.
Navair Inc. has recently diversified into a challenging new market in signal distribution as a systems solution provider, and according to Mike Espeut, “Growth in this new business area will be better served with a management structure that is entirely dedicated to Navair, with focus on its growth and development”.
Mactaggart, commenting on the sale said, “Field Aviation has recently reorganized and we are committed to pursuing opportunities and growing our core capabilities in aircraft modifications for special purpose applications, as well as in parts manufacturing. This sale, which has been contemplated for some time, will benefit both companies as they move in pursuit of their respective initiatives.”
Field Aviation, which celebrated 60 years in business in 2007, is a leading provider of aircraft modifications, aircraft sales, parts manufacturing, aircraft interior conversions and related services to the general aviation, commercial aviation, military and government aviation communities internationally.
For further information contact:
Vice President Marketing