Aerospace Activist Looking for Place to Start Over After Fire

Outspoken aerospace executive Ron Cedillos said Thursday that he will seek to acquire another aerospace firm after his Long Beach firm burned down earlier this week.

A fire on Wednesday gutted Cedillos Testing Co., a small aerospace firm in north Long Beach owned by the Republican fund-raiser and industry activist.

Cedillos said he has retained two small investment banking firms to aid him in his search for an acquisition.

The fire swept the 25,000-square-foot building while Cedillos was working in his office at 5:30 a.m. Wednesday, he said. The loss was estimated at $3 million.

Cedillos said he has total capital in the tens of millions of dollars for his acquisition, partly the result of insurance coverage for the fire loss. In the meantime, Cedillos said, he was keeping his 60 workers on the payroll.

Cedillos has been involved during the past year in efforts by California Gov. Pete Wilson to improve the state’s business climate. He was also active in influencing federal legislation to strengthen requirements for testing of aircraft parts.

Two years ago, Cedillos said he was near an agreement to acquire Vernon-based NI Industries from Masco Industries, but the deal fell apart “at the eleventh hour when we couldn’t agree on a price.”