HUNTER AIRCRAFT NAMES NATIONALLY RECOGNIZED AEROSPACE EXECUTIVE AS PRESIDENT
& CEO
Released_By: USANews
Date: 7/13/98
Time: 8:23:20 PM
For_Immediate_Release
PRESIDENT APPOINTED. Barry M. Meuse, Chairman and CEO of Hunter Aircraft
Corporation, Announced Today the appointment of Stephen D. Townes as President,
Chief Operating Officer, and Director of this emerging aerospace services and
aircraft development company.
"Mr. Townes brings to Hunter a well-earned reputation as an outstanding
leader in the airlines services industry, He is just the man to provide the
proven growth leadership this company needs to realize, its fullest potential in
the coming years. Given our very aggressive plans, I am delighted Townes has
accepted our offer to join Hunter in this key position" said Meuse. He added, We
have over 1,500 public shareholders for whom we intend to redirect and grow
Hunter; Steve Townes will help lead the charge."
Steve Townes is a well known, nationally recognized, fast-growth specialist
And turnaround expert in aerospace, and aviation services. As President of
Hunter, he will lead the Company's acquisitive efforts, direct the operations
management team, integrate acquired operations, and shape the national marketing
campaign.
Previously, Townes was President, then later Vice Chairman, of the heavy
aero-mod divisions of a St. Louis-based aerospace company, leading a
post-acquisition renewal effort that culminated in winning a large commercial
aircraft modification program which is among the largest in the industry's
segment. In that role, Townes managed as many as 1,500 people with annual
budgets approaching the $100 million range.
Townes' previous experiences fire noteworthy for their aggressive marketing
growth. He generated more than a $400 million backlog for a large aero-mod
company in Texas and helped lead the efforts that doubled it large multi-city
aircraft services chain.
After military service in the '70s, Townes began his aerospace career at LTV
Aerospace & Defense Company, a multi-billion dollar aerospace manufacturer and
retrofitter.
Townes is an engineering graduate of West Point, has an MBA from Long Island
University, find is a PMD program graduate of Harvard Business School.
Townes succeeds Mr. Meuse in both capacities. Meuse continues his duties as
Chairman and Chief Executive Officer.
BUSINESS STRATEGY. Mr. Meuse also stated that The Company has refocused its
business strategy since it started trading under the HACO symbol in late 1996.
We are now aimed at aggressively acquiring an array of aviation services, light
manufacturing, specialized technologies overhaul and repair, and components and
parts distribution companies. Several candidate acquisitions are already being
seriously explored," stated Meuse. "Our goal is to close, at least two
acquisitions this calendar year."
ABOUT HUNTER. Hunter Aircraft Corporation is a publicly traded aerospace
services and specialty aircraft development/manufacturing company. The Company
is using its strong shareholder base and debt-free financial condition to
actively seek stock leveraged acquisitions for new strategic growth.
In addition to its acquisition plans in aviation services, Hunter has a
division dedicated to the design and manufacture of innovative fixed-wing and
rotary aircraft for law enforcement, govenment, and general Aviation. Hunters
predecessor operations produced over 3,600 aircraft, most of which Fire still
flying today.
Photos of Meuse and Townes are available upon request and will be sent
overnight to requesters. Aviation industry editors are free to use Townes file
photos on hand at your publication.
For more information: Joseph J. Meuse Director, Investor Relations Hunter
Aerospace, Hunter Aircraft Corporation Tel 703-998-0600 Fax 703-998-0680
