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    Banner Aerospace Inc.
    list rank

    From the April 28, 1997 Washington Post


    '96 (in $ 000s) % Change From '95
    Revenue 287,880 29.5
    Net Income 1,555 227.4
    Rank Last Year: 44

    Description:
    Banner Aerospace is a major supplier of components and services to the global aerospace industry. The company has a small management office near Dulles, but operations are scattered across the United States, Europe and Asia. Business segments include: a hardware group that distributes aerospace fasteners and bearings; a rotables group that distributes flight data recorders, radar and navigation systems and a variety of other electric and hydraulic components; and an engines group that supplies and maintains engines and engine parts. Chantilly-based Fairchild Corp. owns about 60 percent of Banner's stock.

    Business Resume:
    • Contact Info --
      300 West Service Rd.
      Dulles, Va. 22021
      703-478-5790
    • Main Business --
      Aerospace parts distributor
    • Founded --
      1990
    • Chairperson --
      Jeffrey J. Steiner (CEO)
    • President --
      Jeffrey J. Steiner
    • Employees --
      750
    • D.C.-Area Employees --
      14
    Developments:
    Banner's net income tripled in the fiscal year ended in March 1996, and nearly tripled again to $4.6 million over the following three quarters. The surge in profit reflected a rise in demand for new aircraft and the general resurgence of the aerospace industry. Higher sales at Harco Inc., based in El Segundo, Calif., a distributor of precision aerospace fasteners acquired last year from Fairchild, contributed to the improvement. Banner said it had yet to reap significant savings from efficiencies at a new distribution and warehousing center in Salt Lake City that opened last year.

    In January Banner acquired PB Herndon Co., a St. Louis-based speciality fastener distributor with annual sales of about $20 million. In February it announced plans to purchase another Fairchild subsidiary, Fairchild Scandinavian Bellyloading Co.

    Copyright 1997 The Washington Post

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