Business Services Industry
Aircraft Braking Systems to stay in Akron, Ohio, new owners say.
Knight Ridder/Tribune Business News, October, 2004
By John Russell, Akron Beacon Journal, Ohio Knight Ridder/Tribune Business News
Oct. 19--One of Akron's largest and most private companies, Aircraft Braking Systems, is about to get a new owner, who is pledging to keep the aircraft operation and its 700 employees here.
Aurora Capital Group, a Los Angeles investment group, said Monday it has agreed to buy the Akron company's parent, K&F Industries of New York, for $1.06 billion in cash.
"We're not going to make any big changes," said Gerald L. Parsky, chairman of Aurora Capital. "We invest for the long term. We're going to keep the management and continue the success of that company."
Aircraft Braking Systems makes aircraft wheels, brakes and anti-skid systems for commercial,...
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