CHICAGO, IL, Feb. 8, 2012 /CNW/ - Northstar Aerospace, Inc. (TSX: NAS)
(the "Corporation") announced today that, in accordance with the
forbearance agreement with its syndicate of lenders, it has contracted
with FTI Consulting Canada Inc.(FTI) to provide Chief Restructuring
Officer (CRO) services to the Corporation. FTI will provide financial,
strategic and restructuring advice, and assist with management of
liquidity requirements, among other duties.
The Corporation further announced that Craig Yuen has been appointed
Senior Vice President and Chief Financial and Strategy Officer. Greg
Schindler, the Corporation's prior Chief Financial Officer, has left
the Corporation effective today. Mr. Yuen has served as the
Corporation's Chief Strategy Officer since November 2009.
Northstar Aerospace, Inc. (www.nsaero.com) is North America's leading independent manufacturer of flight critical
gears and transmissions. Northstar Aerospace is a public company
(TSX:NAS) with operating subsidiaries in the United States and Canada.
Its principal products include helicopter gears and transmissions,
accessory gearbox assemblies, rotorcraft drive systems and other
machined and fabricated parts. It also provides maintenance, repair
and overhaul of components and transmissions. The Company's executive
offices are located in Chicago, Illinois. Its plants are located in
Chicago, Illinois; Phoenix, Arizona; Milton and Windsor, Ontario,
SOURCE Northstar Aerospace
For further information:
Craig Yuen, Chief Financial and Strategy Officer, at email@example.com or 708-728-2121