Aero Precision Products Expanding Operations in Dorchester County

Columbia, South Carolina

December 20, 2012 – Aero Precision Products, a supplier of aviation
components, today announced that it will move to a larger facility as it expands
its current manufacturing operations in Dorchester County. The $2.5 million
investment is expected to generate 15 new jobs.

"Aero Precision Products is excited about the growth
of the aerospace industry in South Carolina and are eager to open our new
facility in Dorchester County. We look forward to creating challenging job
opportunities to service this growing market," said John Kinney, president and
general manager of Aero Precision Products.

Aero Precision Products will relocate its current operations
in Summerville from 125-C Hodge Road to a new 24,000-square-foot facility
located at 230 Deming Way in Eastport Industrial Park. The company anticipates
the move will occur in March of 2013. The move will significantly increase facility
capacity for planned growth over the next few years.

"When we see one of our existing firms choose to grow
here in South Carolina, we know we’re doing the right things to make our state
the ‘it’ place to do business. We celebrate Aero Precision Products’ decision
to invest $2.5 million and create 15 new jobs in Summerville. By strengthening
South Carolina’s business-friendly climate, we can look forward to more
investments like this one," said Gov. Nikki Haley.

Since January 2011,
South Carolina has recruited more than $7 billion in capital investment and
more than 18,000 jobs in the manufacturing sector.

"Our state’s manufacturing sector is a huge source of
wealth creation, providing good jobs in communities across the state. Aero
Precision Products decision to grow provides another boost to South Carolina’s
manufacturing renaissance. Today’s announcement also builds on our reputation
in the aerospace club," said Secretary of Commerce Bobby Hitt.

Aero Precision Products currently designs, assembles
and tests ball screw actuators used predominantly in the aerospace industry. The
company’s products are used on Boeing aircraft as well as several military
programs, and are used to help actuate flight control surfaces and cargo
handling systems as well as in special applications in the energy and
semiconductor industries.

"Today’s announcement is a positive indicator of the aerospace growth occurring
throughout the region and the state. Dorchester County is pleased to be a part
of this rapidly growing sector," said Dorchester County Council Chairman Larry
Hargett. "We’re proud that Aero Precision Products chose to expand right here
because of our strong business climate and skilled workforce. Their decision
shows our strong commitment to retain and grow business."

The company plans to begin hiring for the new
positions sometime in the second quarter of 2013.

Aero Precision Products is an affiliate of Mistequay
Group Ltd., which is headquartered in Saginaw, Michigan. For more information about
the company, please visit www.aeropp.com.

About S.C. Department of Commerce

As South Carolina’s leading economic development
agency, the Department of Commerce works to recruit new businesses and help
existing businesses grow. Commerce won the Gold
Shovel Award and the Project of Year Award from Area Development magazine in
2012. Commerce has been part of recruiting world-class companies to South
Carolina such as Boeing, Bridgestone, Continental, Monster.com, Heinz, ZF
Group, BMW and Google Inc. Commerce also supports small and existing business,
rural development initiatives and offers grants for community development. For
more information, visit www.SCcommerce.com.

 

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