Ballistic Recovery Systems Purchases the Mexican Manufacturing Facility of Paranetics Technology, Inc
September 22 2005 - 6:27PM
PR Newswire (US)
BRS Acquires Tijuana Facility Experienced in Manufacturing
Parachutes SOUTH ST. PAUL, Minn., Sept. 22 /PRNewswire-FirstCall/
-- Ballistic Recovery Systems, Inc. (OTC:BRSI) (BULLETIN BOARD:
BRSI) ( http://brsparachutes.com/ ), a manufacturer of
whole-airplane parachute recovery systems for general aviation and
recreational aircraft, announced today it has acquired the Tijuana,
Mexico manufacturing facility of Paranetics Technology, Inc.,
headquartered in Cayucos, California. Paranetics Technology is a
defense contractor specializing in the design and manufacturing of
parachutes for the US Department of the Defense. This BRS
acquisition is for the Paranetics' Mexican manufacturing plant and
does not include acquisition of any domestic Paranetics operations.
The acquisition is expected to increase sales of BRS by $1.5 M
dollars in a new market and will solidify the supply of parachutes
for sport and General Aviation product lines. The acquisition will
add up to 45 jobs to BRS de Mexico S.A. de C.V., the newly formed
subsidiary of BRS Inc. "This acquisition is a step in the evolution
of our goals toward expansion and providing additional designs for
more aircraft," said Larry E. Williams, CEO and president of BRS.
"The combination of adding internal capability to manufacture
parachute canopies and our market-leadership in whole airplane
parachute systems promises to provide measurable benefits to our
customers. Through the addition of the specialized expertise we are
acquiring in Mexico and the consistent quality control from one
integrated system, we expect to rapidly expand our new
manufacturing center in Tijuana and fill the needs worldwide for
our technology." Paranetics Technology, Inc was founded in 1963. A
leading manufacturer of parachutes for the U.S. military, the
company specializes in the design and production of non-personnel
parachutes used by the military for cargo and flare drops.
President Joseph Little, who will remain with Paranetics and
continue to manage Paranetics Technology's daily-domestic
operations, said this sale represents a win-win situation for both
companies. In Ballistic Recovery Systems' 25-year history, BRS has
sold more than 20,000 of its onboard emergency parachute systems to
aircraft owners around the world including over 2,000 systems on
certified aircraft like the Cirrus Design aircraft. BRS units to
date have been documented to have saved more than 181 lives. The
forward looking matters discussed here should be considered subject
to risks and uncertainties, including market fluctuations, pricing,
procurement, manufacturing efficiencies, the results of litigation
and other risks that could cause the actual results to differ
materially from those projected. For more information, review the
company's filings with the Securities and Exchange Commission,
particularly the Company's annual report on Form 10-KSB. For more
information on BRS contact: Larry E. Williams; BRS, Inc: Fleming
Field, 300 Airport Road; South St. Paul, MN 55075; USA ( ) TEL
651.457.7491; FAX 651.457.8651 or Robb Leer media liaison at
612-701-0608 ( ) DATASOURCE: Ballistic Recovery Systems, Inc.
CONTACT: Robb Leer for Ballistic Recovery Systems, +1-612-701-0608,
or Larry E. Williams of Ballistic Recovery Systems, (BRS),
+1-651-457-7491,
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