Tactical Air Defense Services in Jane's Defence Industry News
CARSON CITY, Nev., Aug. 24 /PRNewswire-FirstCall/ -- Tactical Air Defense Services, Inc. (OTC Bulletin Board: TADF), an Aerospace/Defense Services contractor that offers air-combat training, aerial refueling, aircraft maintenance, disaster relief services, and other Aerospace/Defense services to the United States and Foreign militaries and agencies, is pleased to announce that Jane's Defence Industry News has begun coverage of TADF and its pending acquisition of Tactical Air Support.
The write-up in Jane's Defence Industry News online edition, a highly respected military-related publication, published out of the U.K., appears below:
TADS says completion of Tac-Air deal imminent
Matthew Bell Jane's Industry Reporter
United States firm Tactical Air Defense Services (TADS) has revealed that it expects to finalize its acquisition of US aviation services contractor Tactical Air Support (Tac-Air) within the next two to four weeks.
Speaking to Jane's on 16 August, TADS President and Chief Executive Alexis Korybut said the Tac-Air purchase would help fulfill a broader strategy focused on exploiting opportunities in Latin America, with further acquisitions expected in the near future. He added that the key deal driver for TADS was to improve its management expertise. Tac-Air President Rolland C Thompson - a former commanding officer of the US Navy Fighter Weapons School - will assume control of the enlarged organization, while Korybut will become chief financial officer.
"The main reason for us [acquiring Tac-Air] is RC Thompson himself and the group of people he's built around him," said Korybut.
The deal to acquire Tac-Air - established in 2005 by former US Navy, Marine and Air Force instructors - was underpinned by a letter of intent announced on 20 May, and effectively marks a merger between Tac-Air and TADS.
Nevada-based TADS was established in 1998 as Natalma Industries, a junior mining company. It moved into the aerospace and defence market in 2006 through the acquisition of AeroGroup Incorporated. TADS reported zero revenue for both 2009 and 2008, and operating costs of USD603,000 and USD1.9 million respectively for the two years.
Further commenting on the reasons behind the Tac-Air deal, Korybut said there is "essentially no overlap whatsoever" between the two companies' operations. TADS provides services relating to the provision of air combat training, aerial refuelling, aircraft maintenance training and disaster relief. Tac-Air has previously been awarded contracts to support P-3C littoral surveillance radar systems and has acted as a sub-contractor on the development of helicopter survivability tactics for the US Naval Strike and Air Warfare Center.
TADS' focus on Latin America and foreign sales complements Tac-Air's US market penetration, said Korybut. "Together we're already pursuing a few US contracts", he added, while also pinpointing a "big push" for Latin American business.
Defence-related maintenance training and service in the US and Latin America are "a big part of our business", he said, with disaster relief services representing "another big push for us."
Korybut said he was actively looking into further "pretty small" acquisitions in the USD10 million range, but was guarded on the question of potential targets. He said such acquisitions were "not for the purpose of capturing current contracts ... [but rather] about local know-how, relationships and credibility."
Alexis C. Korybut, Chief Executive Officer of TADF, stated, "A write-up in Jane's Defence is a well-earned recognition of the progress that TADF has made and the exciting future that TADF and its shareholders can look forward to."
Further information about TADF is available on our website: www.tads-usa.com.
Further information about Tac-Air is available on their website: www.tacticalairsupport.com.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
SOURCE Tactical Air Defense Services, Inc.
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