AAI to acquire military helicopter business

AAI Services Corp. is buying the Texas helicopter engine business McTurbine Inc. for $31 million. AAI is the subsidiary of United Industrial Corp. and specializes in unmanned aircraft and training and simulation systems. McTurbine, a subsidiary of M International, Inc., specializes in maintenance, repair and overhaul of military helicopter engines. It is a service center for Honeywell International Inc. and Goodrich Corp. For the last fiscal year, which ended June 30, McTurbine reported revenue of $24 million. More