EDAC Technologies Announces Proposed Acquisition of Repair Business Unit


FARMINGTON, Conn., Dec. 5 / -- EDAC Technologies Corporation (NASDAQ:EDAC) announced today that it has entered into an asset purchase agreement with MTU Aero Engines North America, Inc. ("MTU"). Under the agreement, EDAC Technologies will purchase the assets of MTU's Repair Business Unit, including its facility located at 35 Holland Drive in Newington, Connecticut. MTU's Repair Business Unit is engaged in precision machining for the maintenance and repair of selected components in the aircraft engine industry. MTU's Repair Business Unit has 11 employees, and EDAC intends to offer employment to each of them.

Dominick A. Pagano, President and Chief Executive Officer of EDAC Technologies, said, "We are clearly excited about this acquisition. It permits us to further diversify our core Aerospace business to adjacent markets and is consistent with our long term growth plan."

The acquisition, which is subject to various normal closing conditions, is expected to close by the end of this year.

About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing company primarily offering (i) design and manufacturing services for the aerospace industry in such areas as jet engine parts, special tooling, equipment, gauges and components used in the manufacture, assembly and inspection of jet engines (ii) high-precision fixtures, gauges, dies and molds and (iii) the design, manufacture and repair of precision spindles, which are an integral part of numerous machine tools found in virtually every manufacturing environment.

FCMN Contact: gpurple@edactechnologies.com

Source: EDAC Technologies Corporation

CONTACT: Glenn L. Purple of EDAC Technologies Corporation, Vice President-Finance, +1-860-677-2603

Web site: http://www.edactechnologies.com/

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