Compass Aerospace Sells Engineering Group
Times Staff and Reuters
Compass Aerospace Corp., a Santa Ana-based maker of plane parts and manufacturing kits, sold its Trim Engineering group of companies in the United Kingdom to a joint venture for about $44 million. Compass said it plans to use proceeds from the sale to reduce its senior secured debt.
The British group consists of Mayflower Aerospace and Rail Systems, Lloyds TSB Development Capital and Bridgepoint Capital.
