The largest shareholder of Fields Aircraft Spares, Inc. (Nasdaq: FASI) is Boeing.
FASI is a leading distributor of aircraft cabin interior replacement products and is a broker for a wide variety of factory new parts applicable to various commercial aircraft models and manufacturers. They are seeking manufacturing acquisitions that will support both new and existing aircraft.
FASI lost its shirt during the aerospace recession, but they returned to profitability and reached record sales levels in the Second-Quarter of 1997. biz.yahoo.com
In the last seven months they have obtained a new $10 million revolving credit line, and closed a debenture offering providing an additional $10 million to finance growth.
They are currently shipping at a rate of $1 million per month up 100% over 1996. With only 1.9 million shares outstanding, their market cap is under $23 million.
IMO, based on their current growth rate, their new financing and having Boeing as their largest shareholder, FASI should have far greater credibility in the industry than other companies their size and should be well positioned to benefit from the current aerospace boom.
Their web site is at fieldsair.com
If you are considering investing in FASI, be sure and do your own due diligence.
Any comments about this company would be appreciated. |
