12/23/1983 - AeroCraft (ACFT) - CORPORATE ANNOUNCEMENT
AeroCraft (ACFT) announced today that it will not meet revenues expectations. The company had previously believed it would have record sales this year but a longer than anticipate development cycle for the company’s new aircraft engine castings have slow production precipitously. Company officials do not know when sales will regain their previous pace of growth.
About AeroCraft (ACFT):
AeroCraft is a maker of investment castings used in aerospace and general industrial applications. Its products include jet engine parts, fluid management valves, and deep-hole boring tools. The cyclical aerospace market still accounts for about half of AeroCraft’s sales, despite acquisitions in the fluid management, metalworking tools, and pulp and paper industries.