About Banner Aerospace
About Banner Aerospace:
Banner Aerospace is involved in the R&D and manufacturing of aircraft engines, engine parts, and auxiliary equipment manufacturing. Formerly a successor to Burbank Aircraft Supply, Inc, the company faced financial difficulty in 1968 and again in the early 80s.
Banner Aerospace was rescued by Jeffrey Fairchild, who bought enough shares to become Chairman of the company. Jeffrey Steiner used Banner Aerospace as a vehicle in a succession of leveraged corporate buyouts. In 1989, Banner Aerospace became the white knight to Fairchild Industries when Fairchild faced hostile takeover from the Carlyle Group. Upon completion of the deal, Banner Aerospace was reorganized by Jeffrey Steiner as a subsidiary of the new entity: Fairchild Corporation. Through the success of Fairchild, Jeffrey Steiner bought out the remaining shares of Banner Aerospace. In 2002, Jeffrey Steiner sold Banner Aerospace’s fastener division to Alcoa. He continues to be Chairman.
Today, the Fairchild Corporation is a conglomerate of two niche manufacturing businesses: apparel for motorcyclists and “nuts and bolts” type parts used in the construction of aircraft.
Banner Aerospace is the division engaged in the aerospace distribution business which stocks and distributes a wide variety of parts to aircraft operators and aerospace companies providing aircraft parts and services to customers worldwide.
The motorcyclist apparel manufactured by the Fairchild Corporation affiliates with three retail chains: PoloExpress, Hein Gericke, and Fairchild Sports. Fairchild’s PoloExpress, Hein Gericke, and Fairchild Sports businesses sell motorcycle protective apparel, helmets, and a large selection of technical accessories for motorcyclists throughout Europe and the United States. Together, Hein Gericke and PoloExpress operate 236 retail shops in Germany, the United Kingdom, Austria, Belgium, France, Italy, Luxembourg, the Netherlands, Switzerland and Turkey.
The Fairchild Corporation also owns and operates a shopping center located in Farmingdale, New York. Additional information is available on The Fairchild Corporation web site (www.fairchild.com).
