Business Summary
First Aviation Services Inc. ("First Aviation") was established in June 1995 by First Equity Group ("First Equity") to acquire National Airmotive Corporation (“NAC�) from Triton Group Ltd.In March 1997, First Aviation acquired the assets of Aerospace Products International, Inc. ("API" - formerly Aircraft Parts International Combs, Inc.) from AMR Combs, Inc., a subsidiary of AMR. API is located in Memphis, Tennessee. In November 1999, NAC was sold to Rolls-Royce North America, Inc. for an adjusted sales price of approximately $71 million. In 1999, API expanded into Canada, forming Aircraft Products International Ltd. In 2000, API expanded again, into the Asia Pacific market, forming API Asia Pacific Inc., in the Philippines. More recently API established operations in Shanghai, China.