SANTA ANA, Calif., Sept. 23, 2014 /PRNewswire/ -- Brian Williams, CEO of AIP Aerospace (AIPA) announced today the creation of Ascent Aerospace, a wholly owned unit of AIPA, which will leverage the leadership positions the business has as one of the largest aerospace tooling companies in the world. The announcement was made at the SAE 2014 Aerospace Manufacturing and Automated Fastening Conference & Exhibition in Salt Lake City, Utah, USA.
"Since its formation in 2012, AIP Aerospace has built its leadership position through both acquisition and organic growth" said Mr. Williams. "Our strategy calls for continued organic growth as we emphasize factory automation in an environment of rising aircraft build rates, which is driving customer demands for increased productivity and lower manufacturing costs. Linking full-line integration and factory automation with our tooling technology allows us to provide unique solutions that greatly streamline aircraft manufacturing. We will also continue to look for acquisitions that fit our strategy of serving the aerospace OEM marketplace."
Ascent Aerospace will be organized into two Groups:
Ascent Tooling Group (including Coast Composites, Odyssey Industries, and Global Tooling Systems). These recognized industry leaders represent the largest tooling businesses serving the aerospace industry and they have experienced strong growth over the last decade as composite aircraft have entered the market. Combined, they offer customers the widest set of unique capabilities and the largest tooling capacity in the industry.
Ascent Integration & Automation Group (including Ascent Integration, Brown Aerospace, and Flow Aerospace). The formation of this group allows Ascent Integration & Automation, to focus on customers' requirements and technology developments, consolidating their design, controls and automation expertise. Ascent Integration will leverage Ascent Tooling Group's fabrication and assembly jig capabilities positioning it to offer customers both integrated turnkey assembly line designs and essential hardware.
Ascent Aerospace will further include an engineering services organization, Ascent Engineering, which will provide design and analysis services to both internal and external customers.
"Organizing Ascent Aerospace as two Groups allows each to focus on specific technologies and capabilities required for their business, enabling coordination and synergistic support between the two. Both Groups share common customers, allowing Ascent Aerospace to leverage its marketing and sales reach, offer products and services at multiple levels, and provide a one-stop product offering," concluded Mr. Williams.
ABOUT AIP AEROSPACE
AIP Aerospace is one of the premier aerospace integration and automation provider with the largest independent aerospace tooling capability and suppliers of high temperature composite parts, critical components, transparencies, and coating technologies. Our strategically aligned Tooling Group, Integration and Automation Group, and Composites Components companies harness the unrivaled expertise of our dedicated industry professionals and state-of-the-art facilities across the United States. For more information, please visit us at: http://www.aipaerospace.com
Important Note:
This press release contains statements on future developments that are based on currently available information. It involves risks and uncertainties that could lead to actual results deviating from these forward-looking statements. The statements on future developments are not to be understood as guarantees. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: changes in budgetary policies and product sourcing strategies, the company's competitive environment, the terms and timing of awards and contracts, and economic conditions. Coast Composites undertakes no obligation to update any forward-looking statements.
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SOURCE AIP Aerospace
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