Kaiser Group Holdings Announces Acquisition of the Assets of Alabama Aircraft Industries, Inc.

Sep 12, 2011, 11:07 ET from Kaiser Group Holdings, Inc.

FAIRFAX, Va., and BIRMINGHAM, Ala.,  Sept. 12, 2011 /PRNewswire/ -- Kaiser Group Holdings, Inc. (Kaiser), headquartered in Fairfax, Virginia, today announced that its wholly owned subsidiary, Kaiser Aircraft Industries, Inc. (KAII), has acquired a substantial portion of the operating assets of Alabama Aircraft Industries, Inc. (AAII), a Birmingham, Alabama based provider of aircraft maintenance and modification services to government and military customers.  

Founded in 1951, in Birmingham, to service aircraft for the U.S. Armed Forces following World War II, AAII has 60 years of aircraft maintenance and modification experience serving its customers.  KAII will build on and augment this long and storied history of schedule performance, quality and competitive pricing by bringing it to new commercial customers, as well as to its traditional military clients.

"Kaiser is particularly pleased that KAII will save and create hundreds of jobs in the Birmingham, Alabama area, and we are excited by the prospects for KAII for substantial growth and profitability," said Doug McMinn, President and CEO of Kaiser.

For more information on Kaiser Group Holdings, Inc. please visit its website at http://www.kaisergroup.com.

SOURCE Kaiser Group Holdings, Inc.