Today in the Defendory 2004 Exibition, HAI's CEO, Mr. Tassos Philippakos and Mr. Pat Rabjohn, LM Aero's Offsets Director for the aircraft F-16, signed an MOU between the two companies concerning the assignment by LM Aero to HAI of additional sub-contracting workload of new major F-16 a/c structural parts, with the prospect HAI to be a Sole Source for these parts.

LM Aero provide to HAI the necessary know-how, training, materials, tooling and technical support.

The total additional sub-contracting workload, in accordance with the MOU, is estimated to reach a value of $ 75 M and will provide work at least to 300 workers.

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