In another twist to its restructuring, the Fairchild industrial grouping has announced plans to spin off its lucrative aircraft fasteners operation into a standalone business, with sales of around $270 million. The US company retains control of the Banner Aerospace parts distribution operation. The group had planned to spin off its non-aerospace technology businesses, but this has been abandoned for the time being. Analysts believe Fairchild could sell off all its assets by the end of 1999.
Source: Flight International