JACKSONVILLE, FL -- (Marketwire) -- 01/22/13 -- Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP) is pleased to announce that the Corporation has entered into a Letter of Intent to acquire Holdings Aviation Corp. ("HAVC"). HAVC is the parent corporation of three (3) Companies engaged in the Aviation Service Sector Industry. The three (3) initial acquisition Companies will become wholly owned subsidiaries of the Public Holding Company.
Holdings Aviation Corp. has combined revenues of approximately twenty-two million dollars ($22,000,000) with four million dollars ($4,000,000) in estimated earnings. The Company's Mission is to become a global leader with a comprehensive footprint through strategic acquisitions, joint ventures and partnerships. The Company expects to achieve double digit growth year over year and exceed one hundred million dollars ($100,000,000) in revenues within three (3) years.
At the core of the company services platform is an industry leader in the business jet maintenance sector that brings over three decades of Cessna factory-trained experience to the service of corporate aircraft. This company has a sophisticated FAA-approved Part 145 repair station that can conduct or supervise every aspect of the maintenance of your aircraft. This includes periodic inspections, parts inventory and warranties, as well as daily and routine maintenance. We have in-house capabilities and a network of proven maintenance facilities, parts and services providers, and other vendors.
Overall, the Company will provide a full spectrum of Aviation Services including aircraft maintenance completions and refurbishments, engineering, fixed base operations, along with aircraft management, charter services, aircraft sales and personnel services and already has the FAA certificates to provide these services. The Company will be uniquely positioned to provide all services under one roof as well as transitional jet training utilizing Quasar's existing certifications. Additionally, a strategically positioned Air Cargo Services Company is being launched to provide full service commodity transportation to the Caribbean basin and Central America.
Upon completion of the due diligence process the parties will enter into a definitive agreement and initiate an audit of each component companies. The final agreement will include new appointments to the board and officers of the parent company as well as a name change.
We will continue to update our shareholders and the investment community as events unfold.
Quasar and its subsidiaries are involved in aviation and aviation related businesses. We are the only certified Cessna Pilot Center (http://www.cessna.com/learn-to-fly.html) in Jacksonville, FL. Through our subsidiaries we are an FAA Part 141 flight school (www.faa.gov), Computer Assisted Testing Service (CATS) (http://www.catstest.com) and a Comira testing facility (http://www.comiratesting.com). We offer flight training and accept VA benefits under the GI bill (http://www.gibill.va.gov/). Our flight students also benefit from our onsite RedBird Full Motion Flight Simulator FMX1000 (http://www.redbirdflightsimulations.com).
Check us out on our web site (www.quasaraero.com) and Facebook at: http://www.facebook.com/pages/Quasar-Aerospace-Industries-Inc/146434125485747 or look to schedule a student pilot experience flight through Groupon (www.groupon.com) or Living Social (www.livingsocial.com).
Quasar Aerospace Industries, Inc.
Telephone: (904) 207-6503
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