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Virginia-Based Aircraft Parts Maker Fairchild Hit By Industry Downturn.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Stefanova, Kristina
Jan. 17--Fairchild Corp. has been a victim of the downturn in the aerospace industry, with its stock hovering between $7 and $10 as opposed to three years ago when it was in the $30s.
The Chantilly company manufactures airplane fasteners, items such as nuts and bolts that hold parts together for Boeing Co., Airbus Industrie and other aerospace companies.
"Clearly we are going lower," said Robert A. Sharpe, the company's executive vice president. "Although nobody believes this is going to be the typical (downturn) cycle we saw in the 1991-94 period."
Fairchild has three major operating sectors. The fasteners segment market share, which climbed 30 percent after the company purchased Kaynar Technologies in April, is the main business.
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