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Greenville SC, February 15, 1999
- Ranger Aerospace Corporation confirmed today that it is
making an aggressive effort to acquire all of the outstanding stock of Hudson General
Corporation (AMEX: "HGC"). Numerous news articles have appeared in the past several
weeks in Reuters, Bloomberg, PR Newswire, Wall Street Journal, New York Times, and other
outlets, stating that Ranger and other possible acquirers were attempting to take over
Hudson in what Bloomberg termed a "bidding war" that Ranger initiated several weeks ago
with its unsolicited take-over offer to Hudson. Ranger has presented Hudson with a
complete proposed Merger Agreement document.
The Ranger offer stated that Ranger's interest in acquiring Hudson stems from long respect
for Hudson's operational excellence, and a strong interest in establishing a strategic
partnership with Lufthansa's GlobeGround unit. Steve Townes, Ranger's founder and CEO,
said, "Hudson, if combined with Ranger's largest subsidiary, would be a perfect fit with our
consolidation strategy in the aviation services industry." Ranger is well known to be
actively seeking additional acquisitions, has conducted deal inquiries with numerous
companies, has performed due diligence on several companies large and small, and has
specific negotiations underway on certain acquisition opportunities at this time.
Ranger is an investment and management company that adds value to its aviation services
business units through quality improvement programs, workforce training initiatives and
incentives, capital re-investment, innovative leadership, and aggressive marketing. Ranger
and its subsidiaries operate with 3000 employees on 35 major airports in North America and
Europe. Ranger is growing through acquisitions and internal re-investments with the
objective of creating a very large quality driven market leader in aviation services. Ranger
and its business units have already become one of the largest independent airfield services
companies in the world. Ranger is privately held by its management and by large
institutional investors and venture capital entities.
<<Complete press kits available upon request.>>
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The Company from time to time may discuss forward-looking information. Except for
the historical information contained in this release, all forward-looking information are
estimates of the Companys management and are subject to the various risks and
uncertainties that are beyond the Companys control and may cause results to differ
from management expectations.
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Special Note: Ranger interviews will be given on request. Please call for a
Press Kit.
ASIG videos or photos available upon request.
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© 2000, 2007 Ranger Aerospace Corporation. All rights reserved
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