Exhibit 99.1
EDAC TECHNOLOGIES ANNOUNCES ACQUISITION OF REPAIR BUSINESS
UNIT
FARMINGTON, Conn., December 14, 2007 — EDAC Technologies
Corporation (NASDAQ: EDAC) announced today that it has closed on
its asset purchase agreement with MTU Aero Engines North America,
Inc. (“MTU”) today acquiring the assets of MTU’s
Repair Business Unit, including its facility located at 35 Holland
Drive in Newington, Connecticut. The acquisition will operate under
the name of EDAC Aero Engine Components Repair providing precision
machining for the maintenance and repair of selected components in
the aircraft engine industry. EDAC has employed all eleven of
MTU’s Repair Business Unit employees. Nova Hill
Partners LLC advised MTU Aero Engines GmbH in this
transaction.
About EDAC Technologies Corporation
EDAC Technologies Corporation is a diversified manufacturing
company primarily offering (i) design and manufacturing
services for the aerospace industry in such areas as jet engine
parts, special tooling, equipment, gauges and components used in
the manufacture, assembly and inspection of jet engines
(ii) high-precision fixtures, gauges, dies and molds and
(iii) the design, manufacture and repair of precision
spindles, which are an int
