New Team to Drive Innovation and Growth at Emivest Aerospace Corporation

ORLANDO, Fla., Oct. 6 /PRNewswire/ -- Emivest Aerospace Corporation, a leading manufacturer of light jet aircraft, today announced the appointment of a new executive team as part of its recently announced re-branding initiative. Led by Chairman Buti Saeed Al Ghandi, 41, and Chief Executive Officer Anthony Power, 41, the new executive team will drive the Company's renewed commitment to innovation and growth.

Emivest Aerospace Corporation was acquired by Dubai-based Emirates Investment & Development Company PSC (Emivest) under the name of Sino Swearingen Aircraft Corporation (SSAC) in June 2008.

"We are fundamentally changing the way the company does business," said Al Ghandi. "Based on our successful track record, we are continually challenging ourselves to sustain and improve the growth of our acquisitions, and strategically position ourselves as the business partner of choice internationally."

Power said, "The team has a renewed focus on its business goals - capitalizing on the synergy between the existing knowledge of former SSAC executives coupled with the proven abilities of our new team members. This change represents a new beginning and we look forward to long-term success."

In addition to Al Ghandi and Power, the company's existing executive team is strengthened by:

    Edward J. Swearingen - Founder and Senior Advisor
    Joseph Gullion - Chief Operating Officer
    Paul J. Downey - Chief Financial Officer
    Eileen M. Brooks - Vice President, Human Resources
    Kevin P. Herlehy - Vice President, Integrated Supply Chain

    Biographies of each member of the executive team can be found below.

About Emivest Aerospace Corporation

Emivest Aerospace Corporation, formerly Sino Swearingen Aircraft Corporation (SSAC), is a U.S.-based aircraft manufacturing company. Headquartered at the San Antonio International Airport (KSAT), the company currently employs approximately 300 staff at its facilities in San Antonio, Texas and Martinsburg, West Virginia. It is a subsidiary of Emirates Investment & Development PSC (Emivest). For more information about Emivest Aerospace, visit www.emivestaerospace.com

    Media Contact:
    Kelly McGrath - 404-879-9170 - Kelly.mcgrath@ketchum.com
    Ketchum for Emivest Aerospace Corporation


    Emivest Aerospace Corporation Executive Biographies

Chairman Buti Saeed Al Ghandi, 42, also serves as chairman of parent company Emivest, a diversified multi-disciplinary, private shareholding equity investment company. As Chairman of Emivest since its inception, Al Ghandi has led investments in sectors such as aviation, construction, manufacturing, real estate, services and telecom in regions including Europe, the Sub-Continent of Africa, East Asia, and the United States. He also serves as the vice chairman of Oman Insurance Company, the second vice chairman of the Dubai World Trade Centre, a board member at Union National Bank and managing director of several companies within the Al Ghandi Group.

CEO Anthony Power, 41, has over 18 years of experience in the international markets in the US, Asia, Europe and the Middle East. He joined Emivest in 2003 and most recently served as chief investment officer and executive vice president of group investment, where he was successful in turning around a number of distressed operations into profitable businesses by redefining the business model and cutting costs. Before joining Emivest, Power was chief operating officer for of SITA International's Malaysia, Singapore and Brunei operations.

Edward J. Swearingen, founder and chief advisor, has spent a lifetime making aircraft better and advancing the aerospace industry through his innovative designs and thinking. He was awarded NBAA's Meritorious Service Award in 1974 and was inducted into the Living Legends of Aviation and the Texas Aviation Hall of Fame. Swearingen served with Continental Airlines and Lear Incorporated and subsequently formed Swearingen Aircraft where he developed a number advanced aircraft designs ranging from small twin engine piston airplanes to large four engine jets. Well-known examples of his work are the Piper Twin Comanche and Cheyenne, Jet Star II and 731 Jet Star, Merlin and Metro and re-engineering of the Boeing 707. The SJ30 was born of Swearingen's vision and recognition of a need for a smaller, more efficient corporate jet with full speed and range capabilities.

Joe Gullion, chief operating officer, has 25 years' experience in the aviation services industry where he has executed critical business initiatives in fast-growth entrepreneurial companies and Fortune 500 companies, including Boeing, AAR and Allied Signal. As president of Boeing Airplane Services, Gullion was instrumental in developing and growing the engineering and modification services business resulting in year-over-year double-digit growth. He also served as vice president global sales, marketing and new business development for the Allied Signal Aerospace aftermarket business and is a former officer and pilot with the U.S. Navy.

Paul J. Downey, chief financial officer, has over 25 years of experience providing increased shareholder value in complex manufacturing environments in Aerospace, Defense and Automotive market sectors. After nearly 20 years with TRW Inc. in a variety of domestic and international assignments, Downey held group and corporate chief financial officer responsibilities for several aerospace and industrial firms where he was successful at driving the development and implementation of strategies for profitable growth. Downey holds a commercial pilot license and is a strong advocate for general and commercial aviation.

Eileen M. Brooks, vice president, human resources, brings more than 20 years Human Resources leadership experience in the aerospace industry serving with United Technologies, Thiokol Propulsion and Alcoa Howmet. As an organizational change agent, she focuses on improving business results through leadership and people engagement. As vice president Human Resources for Alcoa Howmet, she recently led the HR function during a rapid growth phase profitably taking the organization from 6,500 employees to over 11,000 in three years.

Kevin P. Herlehy, vice president, Integrated Supply Chain, offers 30 years of international commercial and business jet aviation experience in aircraft manufacturing operations, engineering and supply chain management leadership roles. He has served with Boeing, Mooney Airplane Company, Fairchild Dornier, and NetJets. As vice president of operations at Mooney Airplane Company, Herlehy is credited with doubling production, reducing costs and span time, and improving quality.