Apollo Aerospace Components Limited acquired substantially all assets of Aero-Missile Components Inc. from Precision Aerospace Components, Inc. for $10.5 million.

Apollo Aerospace Components Limited acquired substantially all assets of Aero-Missile Components Inc. from Precision Aerospace Components, Inc. for $10.5 million on April 28, 2017. The consideration is subject to working capital adjustments and $1 million of the consideration will be held in escrow to be released to Aero-Missile on the first annual anniversary of the closing date. Pursuant to the agreement, both Precision and Aero-Missile agreed to sell Apollo the rights to the Precision and Aero-Missile names. Aero-Missile has changed its name to PolyAero Inc. Precision will have 45 days from the closing date to implement its name change. Apollo Aerospace Components Limited completed the acquisition of substantially all assets of Aero-Missile Components Inc. from Precision Aerospace Components, Inc. on April 28, 2017.