U.S. Aerospace, Inc. Filed for Bankruptcy

U.S. Aerospace, Inc., formerly New Century Companies, Inc. is engaged in the production of aircraft assemblies, structural components, and highly engineered, precision machined details for the United States Department of Defense, United States Air Force, Lockheed Martin Corporation, The Boeing Company, L-3 Communications Holdings, Inc., the Middle River Aircraft Systems subsidiary of General Electric Company, and other aircraft manufacturers, aerospace companies, and defense contractors. The Company supplies structural aircraft parts for military aircraft, such as the P-3 Orion, and wide-body commercial airliners, such as the Boeing747. The Company operates through its wholly owned subsidiaries, Precision Aerostructures, Inc. (PAI) and New Century Remanufacturing, Inc. (NCR). In September 2010, the Company divested its machine tool manufacturing business unit, New Century Remanufacturing, Inc.