Dean Bradley, the CEO of Quasar Aerospace Industries, Inc., announced that QASP, with two other partners, has acquired the rights to purchase $150+ million worth of helicopter spare parts for $15 million.
According to a release, these spare parts will be shipped from their present location to the Jacksonville, Fla., area and sold/distributed worldwide over the next 5-7 years. QASP will control 51 percent of the venture and recapture its $15 million investment plus interest prior to any distribution of profits. The company said its partners have worked for five years obtaining the US State Department approval which is now in hand.
The funding is in the company's bank for closing Acquisition #3, which will occur on May 6 in the company's conference room at Herlong Airport. The effective date of the takeover is May 1. The details and name will be disclosed in a PR that afternoon.
