Northstar to evaluate strategic alternatives
November 15, 2010 By Carey Fredericks
Nov. 15, 2010, Chicago, Il. - Northstar Aerospace, Inc. announced today that a special committee has been appointed by its board of directors to explore and evaluate strategic alternatives for the company.
The special committee intends to undertake a thorough exploration of the full range of alternatives to enhance shareholder value and has retained Harris Williams & Co. to serve as its financial advisor.
Mr. Gordon Flatt, Chairman of the Special Committee to Northstar's Board of Directors, said, "We believe that this is an opportune time for Northstar to explore alternatives for enhancing shareholder value. However, as we participate in this process, we will continue to focus on the long-term initiatives and operating strategies previously identified to ensure continued growth opportunities for the Company."
There is no defined timeline for the strategic review and there can be no assurance that the review of strategic alternatives by the Special Committee will result in any specific transaction. The company does not intend to comment further regarding the evaluation of strategic alternatives, unless a specific transaction or process is concluded, or it otherwise deems further disclosure is appropriate or required.
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