Mr. Ed Chalupa reports

ONEX TO INVEST IN AIT

Onex Corp. plans to make an investment in Advanced Integration Technology (AIT), a leading provider of automation and tooling, maintenance services, and aircraft components to the aerospace industry. The terms of the transaction, which is expected to close in December subject to customary conditions, were not disclosed.

AIT designs, manufactures and installs turnkey systems, automated tooling and equipment for the assembly of aerospace structures. The company also makes and repairs aircraft components and tooling, and sells maintenance and installation services to aerospace suppliers. AIT serves its customers through facilities in the United States, Canada, Spain and Sweden, and has more than 550 employees.

"In Onex, we've found a partner that understands our business and customers well, and has the resources and aerospace credentials to help us grow," said Ed Chalupa, founder, president and chief executive officer of AIT.

"AIT has been a leader in automation and tooling for some time and it's been exciting to see the company bring its standards of innovation and service to new business lines. Ed Chalupa and Karl Williams have built a wonderful business and we're fortunate to be a part of it," said Tawfiq Popatia, a managing director with Onex.

The investment will be the first for Onex Partners IV, Onex's $5.15-billion flagship fund.