Daily Archives: March 3, 2016

Precision Aviation Group (PAG), announces Precision Aviation Controls (PAC) is Now Honeywell Approved for Pratt & Whitney PT6 Series Fuel Accessory Support

ATLANTA, March 3, 2016 /PRNewswire/ — Precision Aviation Group, Inc. (PAG), a leading provider of products and value-added services to the Worldwide Aerospace and Defense industry, is pleased to announce formal approval from Honeywell to provide Maintenance Repair and Overhaul (MRO) services for various PT6A and PT6T Engine Accessories through its subsidiary Precision Aviation Controls (PAC).

The capabilities have been added at PAG’s subsidiary Precision Aviation Controls (PAC), an FAA / EASA & ISO 9001 Approved Repair Station located in Independence, Kansas. PAC has been a Honeywell Authorized Warranty and Repair Station (AWARS) since 1995. The new PT6 approval encompasses the complete line of PT6 Fuel Accessories and complements PAC’s existing RR250 and LTS101 capabilities. This increases PAC’s MRO capability to over 1,200 unique part numbers.

“The addition of the PT6 series capability at PAC demonstrates our continuing commitment and dedication to meeting our customers’ needs by expanding our internal MRO capabilities,” said David Mast, PAG’s President & CEO. “Adding PT6 Fuel Accessory capabilities at PAC is a natural extension of the MRO Services and Support we currently provide through all of our existing business units. Additionally, it allows us to better support Fixed and Rotary Wing customers who operate aircraft that are powered by the PT6.”

Jim Robertson, President of PAC stated, “PAC has been a leader in Fuel Accessory MRO services since 1986. In conjunction with PAG’s acquisition of PAC in July, 2014, we have made significant investments in facilities, inventory, training, tooling and capabilities expansion, and will continue to expand the range of Fuel Accessory MRO services we can provide to our customers.”

Logo – http://photos.prnewswire.com/prn/20140730/131516

About Precision Aviation Group (PAG)
Precision Aviation Group (PAG) is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With 10 locations and more than 250,000-square-feet of sales and service facilities in the United States, Canada, Australia and Brazil, PAG uses its distinct business units and customer-focused business model to serve aviation customers through two business functions – Aviation Supply Chain and its trademarked Inventory Supported Maintenance, Repair and Overhaul (ISMRO®) services.

PAG provides MRO and Supply Chain Solutions for Fixed and Rotary-wing aircraft through: Precision Heliparts – PHP (www.heliparts.com); Precision Aviation Services – PAS (www.precisionaviationservices.com); Precision Accessories & Instruments – PAI (www.precisionaccessories.com); Precision Heliparts Canada – PHP-C (www.heliparts.ca); Precision Accessories & Instruments Canada – PAI-C (www.precisionaccessories.ca); PHP-Instruments & Accessories – PHP-IA (www.heliparts.la); Precision Heliparts – Brazil (www.precisionaviationgroup.com/php-br) Precision Aero Technology –PAT (www.precisionaerotechnology.com), Precision Heliparts – Australia – PHP-AU (www.precisionheliparts.com.au), Precision Accessories & Instruments – Australia (PAI-AU) (www.precisionaccessories.com.au) and Aviation Controls, Inc. – ACI (www.aviationcontrolsinc.com). PAG subsidiaries have MRO capabilities on over 35,000 products, including accessories, avionics, engine components, hydraulics, instruments, NDT, starter/generators, and wheels/brakes (www.precisionaviationgroup.com).

Cabinet notes Barclays’ announcement

Pretoria – Cabinet says it has noted Barclays PLC’s announcement of its intention to reduce its 62.3 percent shareholding in Barclays Africa Group Limited (BAGL) over the next two to three years.

The shareholding will be reduced to a level – less than 20% – which will permit the deconsolidation of BAGL for accounting and regulatory purposes. This is subject to relevant shareholder and regulatory approvals in each jurisdiction. Barclays PLC will remain a major shareholder in BAGL.

“Barclays PLC, in particular the CEO, has engaged both the National Treasury and the Reserve Bank in an open dialogue, and we welcome the company’s commitment to implement its new strategy in a way that will minimise the impact on the economies in which BAGL operates,” said a Cabinet statement issued by the Government Communication and Information System (GCIS) on Thursday.

Barclays PLC said the key driver of the decision was global regulatory pressures. The return on equity at group level is significantly reduced because of the additional capital and other regulatory requirements a large global bank such as Barclays needs to meet such as the globally systemically important bank (G-SIB) buffer, the minimum requirement for own funds and eligible liabilities (MREL) and total loss absorbing capital (TLAC) requirements and the UK Bank Levy.

Cabinet said the Reserve Bank will work with Barclays PLC and BAGL to ensure that any potential risks from the transaction are mitigated and appropriate measures will be taken to manage capital flows arising from the transaction.

SOURCE: SOUTH AFRICAN GOVERNMENT NEWS AGENCY

Announcement on national minimum wage soon

Cape Town – Deputy President Cyril Ramaphosa says a significant announcement relating to deliberations on the national minimum wage will be made in the coming months.

The Deputy President said this when fielding oral questions in the National Assembly on Wednesday.

He was responding to a question by Economic Freedom Fighters Chief Whip Floyd Shivambu on whether claims by labour representatives at the National Economic Development and Labour Council (NEDLAC) that government was delaying the implementation of the National Minimum Wage, were true.

“All social partners have committed themselves to conclude these deliberations without any delay. The national minimum wage negotiations are forging ahead. They have agreed that this process requires careful management and execution. A number of experts are advising the process.

“In the coming months, we will be making significant announcements in this regard. There have been no delays caused by government,” the Deputy President said.

Delivering the State of the Nation Address last month, President Jacob Zuma said deliberations continue to take place on the level at which the minimum wage must be placed.

He said that it was important to emphasise that the national minimum wage should be implemented in a manner that does not undermine employment creation, the thriving of small businesses or sustained economic growth.

The President said government was encouraged by reports from NEDLAC that a framework to stabilise the labour market by reducing the length of strikes and eliminating violence during strike action is being finalised.

On Wednesday, the Deputy President told Members of Parliament he had not received an indication from any of the NEDLAC constituencies that government was frustrating progress with regards to the national minimum wage.

He said representatives of labour, business and the community sector have had ample opportunity to raise any concerns they may have.

The Deputy President has, since November last year, convened three meetings of the Committee of Principals. He has also held two rounds of bilateral meetings with each of the constituencies, where concerns were raised and have been addressed.

“As indicated by the President in the State of the Nation Address, deliberations are currently underway between the social partners on the level at which the national minimum wage must be set.

“These deliberations are both complex and crucial. A number of other countries have taken much longer to arrive at a national minimum wage.”

He added that the national minimum wage needs to be set at a level that makes a meaningful difference in the lives of the lowest paid workers, while ensuring that economic growth and job creation can be sustained.

“There is general agreement that the level agreed upon should be based on the best available evidence,” he said.

SOURCE: SOUTH AFRICAN GOVERNMENT NEWS AGENCY