Parkway Products revealed that it has concluded the sale of Parkway Aerospace & Defense to EDAC Technologies Corporation. EDAC Technologies Corporation is a wholly-owned firm of Greenbriar Equity Group LLC while Parkway Products is a global player in specialized molding technologies. The details of the acquisition were not disclosed.

"The selection of Greenbriar and EDAC fulfills our Board's objective of finding an aerospace-focused owner for the A&D business that will allow it to achieve its maximum potential," Chairman of Parkway Products, Joe Klunk, stated

Parkway Aerospace & Defense's growing composites-focused enterprise includes production plants in Kentucky, Ohio, and in Mexico. The current president of Parkway Aerospace & Defense, Nick Bitter, and his management team are to maintain their leadership in the business post-acquisition.

"The demand for aerospace composites continues to increase among our customer base and we believe the combination with Greenbriar and EDAC enhances our ability to meet the requirements of that growth," Bitter explained.