Business

October 3, 2012

Tactical Air Defense Services closes acquisition of Northrop TF5-1 Corp.

Tactical AirDefense Services, Inc. , an aerospace/defense services contractor that offers tactical aviation services, aircraft maintenance, and other aerospace/defense services to the United States and foreign militaries, has closed the acquisition of Northrop TF5-1 Corp., a military aircraft holding company, as a wholly-owned subsidiary of TADF.

Through the acquisition of Northrop, TADF has acquired ownership of a Canadair CF-5 aircraft, which TADF intends to use in support of tactical aviation contracts that it is currently pursuing through its wholly-owned subsidiary, AeroTech Corporation. In addition, as previously disclosed in our prior Form 8-K filing, through the pending acquisition of Globalease Corporation, TADF intends to acquire an additional two Canadair CF-5 aircraft through lease-to-purchase agreements.

CF-5 aircraft are supersonic fighter aircraft known to be cost effective, low-maintenance, and extremely versatile fighter jets that have been used effectively by many countries around the world as light /attack strike fighters, reconnaissance platforms, and to provide a tactical support role as air-to-ground, close-air-support, training platforms or dissimilar air combat training aircraft. The CF-5 two-seat aircraft are considered by many to be the ideal training aircraft for F-16 lead-in fighter pilot training.

“It is difficult to over-emphasize the importance of acquiring Northrop and its CF-5 aircraft, which materially increase our ability to pursue and win government contracts to provide tactical aviation services. Although there exists competitors offering aviation services, there are few that can supply the aircraft required to fulfill such contracts, and we believe there are no other private companies that can offer CF-5 aircraft or any comparable aircraft,” said Alexis C. Korybut, CEO of TADF. “We intend to continue to acquire additional aircraft through subsequent purchases or exclusive leases, including the addition of two CF-5 aircraft through the pending acquisition of Globalease.”

 




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