Air Industries Group -- a manufacturer of components for landing gear, arresting gear, engine mounts and flight controls systems supplied to commercial and defense aerospace prime contractors -- is buying Miller Stuart Inc. The buyer did not report the value of the acquisition.
Air Industries recently explained it is pursuing an “aerospace consolidation strategy” aimed at combining small aerospace companies to share resources, create centers of excellence, and improves technical capabilities. It expects this approach will provide competitive advantages for such operations within the broader aerospace industry.
Already, the group operates through three subsidiary companies: Air Industries Machining Corp., which builds mechanical and electromechanical flight control and flight-critical subassemblies, arresting gear for carrier aircraft, complete landing gear and landing gear components; Welding Metallurgy Inc., which designs and manufactures aerostructures like inlet housings, external beams for the Black Hawk helicopter, fuel and oil tanks, and environmental and exhaust tubing; and Nassau Tool Works, which produces individual components for repairing landing gear, complete landing gear for replacement on aircraft.
Air Industries recently won a six-year, $27-million contract to manufacture nacelle thrust struts for an unnamed aerostructures manufacturer, as part of a production program for a new geared turbofan jet engine. The engines is destined for installation in commercial jets.
Operations, Management Continuing
Miller Stuart will be operated as a separate subsidiary company. It will continue its operations at Hauppauge, N.Y., and Air Industries stated that that the current management and employees of Miller Stuart will remain in place.
Miller Stuart manufacturers aerospace components for major aircraft OEMs and the U.S. Dept. of Defense. It specializes in electromechanical systems, harness and cable assemblies, electronic equipment, and printed circuit boards.
"The acquisition of Miller Stuart enhances Air Industries in two ways,” Air Industries CEO Peter Rettaliata explained.“First, it brings new and complementary technical capabilities and new product lines to the company. Air Industries has manufactured electro-mechanical throttle quadrants for helicopters for many years and this acquisition will help us strengthen this product line.
“Miller Stuart's customers are also customers of our recently acquired Decimal Industries business unit of our Welding Metallurgy subsidiary,” Rettaliate continued. “We expect and hope that the combination of Decimal and Miller Stuart will deepen our relationship with these customers.”
The CEO also called the acquisition “a continuation of our ‘aerospace consolidation’ strategy aimed at grouping small aerospace companies to provide expanded technical capability and a broader range of products to our customers in the growing aerospace industry."