Southern California Aerospace Company Receives Healthy Revenue Injection Thanks to Two New Contracts

Business Wire, May 3, 1999

MONROVIA, Calif.--(BUSINESS WIRE)--April 29, 1999--

Los Angeles-Based Composite Structures LLC Gets Go-Ahead on Spoiler Program for the Boeing C-17 Globemaster III Cargo Aircraft and

Secures Depot Repair Program for the AH-64 Apache Attack Helicopter

Fueling the aerospace manufacturing economy, Composite Structures LLC has inked two programs worth a combined $43 million in revenue.

Composite Structures was selected by longtime customer The Boeing Co. to participate as a team player by continuing its spoiler fabrication for the C-17 Globemaster III cargo aircraft, which is assembled at Boeing's Long Beach, Calif., facility.

In addition, the Boeing rotorcraft division in Mesa, Ariz., has awarded Composite Structures two contracts for year 2000 production of AH-64 Apache Main and Tail Rotors plus one contract for Main Rotor Depot Repair. Boeing and Composite Structures have been team members on the Apache Helicopter since initial development in 1974.

"We have built our brand on quality, trust and dependability," said Brad Spahr, president and chief executive officer of Composite Structures, which has been a supplier of metal bond and composite parts for the aerospace and defense industries for more than 45 years. "Confidence in our capabilities shown by Boeing Long Beach and Boeing Mesa underscores our strength of the brand."

Composite Structures will continue its multiyear production on the C-17 spoilers to fulfill 115 ship-sets according to terms set forth by the U.S. Air Force. The ship-sets, which contain eight spoilers each, will continue to be delivered until 2003. Boeing is actively pursuing additional C-17 orders, which could extend production well into the next decade.

For the Boeing AH-64 Apache Program, Composite Structures has been designated a prime production and Depot Repair Center. Under the contract, Composite Structures will coordinate an Apache main rotor blade repair program for 128 blades.

In addition, Composite Structures will produce 328 new tail rotor blades and 200 main rotor blades, both of which are set to begin delivery on Jan. 1, 2000, and continue through Dec. 31, 2000.

About Composite Structures

With headquarters in Monrovia, Composite Structures is a privately held company owned by Quarterdeck Equity Partners, the Pritzker family and The Carlyle Group, who purchased the company from ALCOA, its previous owner.

Composite Structures' current business load is well balanced between the commercial and military markets, with approximately 50 percent of the company's sales attributable to each. While the company's largest customer is Boeing (four different locations), Composite Structures also produces composite components for Allison Engine (Rolls Royce), Sikorsky and Bell Helicopter Textron.

Revenues for 1998 were approximately $50 million. For additional information, visit http://www.csllc.com.