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June 8, 2000 -- LKD Aerospace, Inc. announced today the signing
of an agreement to acquire BMR Aviation Inc. BMR is a Canadian-based
distributor of rotable products to the aerospace aftermarket. The
acquisition is expected to accelerate LKD’s growth in rotable products
and add depth to its globalization efforts. The acquisition is expected to
close in mid-summer. Terms of the transaction were not disclosed.
LKD Aerospace, a rapidly growing B2B e-commerce
leader in aerospace aftermarket distribution, is headquartered in
Issaquah, Washington. The company distributes factory new expendables,
rotables and surplus inventory to more than 1500 existing customers around
the world serving six continents. Customers include airlines, repair &
overhaul facilities, OEMs and aftermarket service companies. LKD's
products are used on Boeing, McDonnell Douglas, Airbus, Embraer and
Bombardier jet aircraft as well as Fairchild, Beech and Bombardier
turboprop aircraft. LKD has been in business since 1983.
President and CEO of LKD, Mark Chamberlain, stated,
"We are thrilled to add the strengths of BMR into the LKD team. This
acquisition brings many synergies and adds new customers, compelling
products and services as well as expanding our global footprint.
Importantly, it also adds key management talent to the LKD leadership
team. The combined company, along with LKD’s e-business initiatives,
will accelerate our strategy of establishing a best-of-breed global
enterprise with the ability to offer a complete breadth of products and
services to the aerospace aftermarket."
The acquisition comes in a string of recent
announcements by LKD Aerospace including the launch last month of the
company’s new B2B E-commerce website at www.Lkdaerospace.com
as well as the signing of several new OEM’s for distribution services.
The new website features more than 2,000,000 parts with real-time
inventory status. The website features complete order fulfillment services
by LKD. Chamberlain added, “We are extremely fortunate to add Bart Vegt,
President of BMR, to our organization. His more than 25 years of airline
management experience bring significant new strengths to our business. The
new LKD Aerospace will be better positioned to serve our global customer
base and leverage our e-business development efforts.
The dramatic improvements in supply chain management and
substantially reduced transaction costs that e-business offers positions
us to offer the best value proposition in the aerospace aftermarket.”
Bart commented, “BMR is excited to become the
newest member of the LKD Aerospace team. Together we will be enhance our
service offerings to our customers throughout North America, provide a
greater array of products as well as leverage the e-business investments
being made by LKD."
LKD plans to continue leveraging its unique global
distribution capabilities coupled with accelerated investment in
Information Technology and e-commerce. Additional growth initiatives
include continued expansion of its B2B services, new distribution
agreements, strategic partnering, potential acquisitions as well as the
opening of its first international sales office later this year.
Bart added, “In my new role as Vice-President, I am
especially looking forward to a key leadership role in this fast growing
business and spearheading growth in the rotable side of the business. We
have substantial growth opportunities and this is just the beginning of
many great things to come.”
LKD Aerospace is a global leader in aerospace aftermarket
distribution and information services. The company provides factory new
and surplus products as well as consignment and e-business services
. LKD serves major and regional airlines, OEM’s, repair and overhaul and
other members of the aftermarket community throughout the world.
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