PA Holdings Corp. has announced it is exploring the sale of its Ogden-based Jetway Systems Division of Pneumo Abex Corp.
Jetway is the world's leading manufacturer of aircraft passenger boarding bridges with approximately 80 percent of the domestic market and 40 percent of the international market.Since its inception in 1958, Jetway has designed, fabricated and installed more than 3,000 passenger bridges.
It also produces aircraft power conversion systems sold under the Jetpower 2 logo and airport ground support equipment.
For the past 12 months, Jetway had sales of approximately $70 million.
Jetway was acquired by PA Holdings last month as part of PA Holdings' purchase of Pneumo Abex Corp. from IC Industries Inc.
PA Holdings is a recently formed joint venture of Henley Group Inc. of La Jolla, Calif., and Hampton, N.H., an Wasserstein, Perella and Co. Inc., an international investment banking firm.
Wasserstein, Perella will be acting as PA Holding's financial adviser in the sale of Jetway.