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/ BARBARA MURPHY

Fields Aircraft Spares to Acquire Van Nuys Firm

January 13, 1998|BARBARA MURPHY

Fields Aircraft Spares Inc. in Simi Valley has signed a letter of intent to acquire Flightways Manufacturing Inc., a Van Nuys-based maker of plastic replacement components for commercial aircraft seats and interiors.

Exact terms of the deal, which will include a cash payment and the assumption of debt, were not disclosed.

Flightways gives Fields "access to a wider client base, and we see the firm as a perfect fit for our firm," said Alan Fields, president of Fields Aircraft. The purchase "is consistent with our strategy to acquire quality growth companies in the aircraft replacement part business," he said.

Founded in 1991, Flightways serves a majority of U.S. airlines as well as an increasing number of international carriers. In addition to manufacturing aircraft interior parts, it also overhauls and repairs seats, seating components, carts and modules.

Fields Aircraft Spares, through its wholly owned subsidiaries Fields Aircraft Spares Inc. and Fields Aero Management Inc., distributes replacement products for aircraft cabin interiors and is a broker for a variety of new parts used in various commercial aircraft models.

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