Unprecedented Growth at BRS Brings New Strategic Planning
December 14 2007 - 3:00PM
Business Wire
Ballistic Recovery Systems, manufacturer of whole-airframe
parachute systems, announced today that it is realigning senior
management in the company to respond to the recent growth of the
company. In the last 12 months, BRS has announced that its whole
airframe parachute systems would appear in seven new airframes. The
company also announced that it had formed a significant strategic
alliance with CIMSA, that it had, through the acquisition of
certain assets of Head Lites Corporation, formed Advanced Tactical
Fabrication (ATF) to help focus on textile fabrication operations
for products both related to US Department of Defense work and
civilian applications, that it has provided a parachute recovery
systems to CIRA, the Italian Aerospace Research Center, and that it
has established a new manufacturing facility near Ft. Bragg in
North Carolina to address the growing DoD market. Ballistic
Recovery Systems finds itself in the enviable position of having to
make adjustments for unprecedented growth opportunities. �This is
the kind of problem you look forward to having,� says BRS CEO Larry
Williams. �Growing at this rate requires us to adjust our senior
management team.� BRS will restructure its core operations to allow
for implementation of a larger and realigned management structure.
Chief Financial Officer Don Hedquist is stepping aside to make room
for a new finance team. Gary Moore has taken the reins as Vice
President of Sales & Marketing; David E. Blanchard is now the
General Manager for BRS; while Norman Girdwood takes over General
Manager responsibilities at the new BRS Fabrication division
facility in Pinebluff, NC. �BRS has become more of an international
player this year,� Williams says, �and we only expect that to
continue. For those of us who have been working at BRS over the
years, it�s wonderful to see the success of our efforts.� Testing
is currently underway on a new, larger parachute system which is
designed for installation on personal jets. Epic Aircraft has
announced it will include a BRS parachute on its new Victory jet
and Diamond Aircraft has slated a parachute on its D-Jet. These two
aircraft will become the first civilian jets in history to have
this remarkable safety system. About Ballistic Recovery Systems and
Advanced Tactical Fabrication Based in South Saint Paul, Minnesota,
BRS designs, manufactures, and distributes whole-airplane emergency
parachute systems for general aviation and recreational aircraft.
ATF (or Advanced Tactical Fabrication), a joint venture of BRS and
Head Lites Corp (HLC), is a leader in the safety apparel and �cut
& sew� industry. Since 1981, BRS has delivered more than 27,000
parachute systems to aircraft owners worldwide, including over
3,500 systems on FAA-certificated aircraft such as the Cirrus
Design aircraft manufactured in Duluth, Minnesota. To date, BRS
parachute recovery systems have been credited with saving the lives
of 207 pilots and passengers. This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are
often, but not always, made through the use of words such as
�anticipates,� �expects,� �plans,� �believes,� �intends,� and other
similar words or phrases. These statements are only predictions,
and are based on current information and expectations. Such
statements involve a number of risks and uncertainties, including
market fluctuations, pricing, procurement, manufacturing
efficiencies, operating risks, 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. All forward-looking statements are qualified in their
entirety by this cautionary statement, and BRS undertakes no
obligation to revise or update this press release to reflect events
or circumstances after the date hereof.
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