Florida Designer to Form Joint Venture with American Airlines.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2001 The Miami Herald

Byline: Ina Paiva Cordle

May 24--Heico Corp. has built its business from taking apart other companies' highly engineered products, figuring out how they are made and then manufacturing them and selling them for less.

The company, which has dual headquarters in Miami and Hollywood, has become the world's largest independent designer, manufacturer and distributor of Federal Aviation Administration-approved replacement parts for jet engines and airframe components.

Today, Heico is announcing a joint venture with the world's largest airline company, American Airlines parent, AMR Corp., that will accelerate the development of hundreds of new engine and airframe component parts, said Heico Aerospace President and Chief Executive Eric A. Mendelson.

Together, the companies are investing more than $10 million in the joint venture, and hope to generate revenue of more than $100...

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