AAI Acquisition looking for strategic partner

Russian-backed AAI Acquisition is looking for a strategic partner to continue the growth of the company.

AAI Acquisition bought the assets of the former Adam Aircraft in April 2008. At the time, the company said it would continue to work on certifying the A700 light jet. But in the meantime, the economy took a turn and it halted that work and laid off most of the work force.

Last fall, the company said it was going to market its design and manufacturing services to customers.

That’s been successful and the company is ready to expand, it said today.

“Based on our initial efforts, we aer building a viable business base for our engineering solutions and services while retaining the option to re-launch the A700 business jet,” Steve Patrick, vice president of business development, said in a statement.

Principal targets for the initiative include aerospace and custom automotive sectors and organizations that could benefit from composite design and manufacturing skills using the “low cost, out-of-autoclave methods that AAIA perfected while developing the A700 business jet.”