It’s been two years since the Nordam Group laid off 63 employees, primarily from the interiors and structures operations unit responsible for business aviation cabin components. It wasn’t the first layoff and brought the total reduction in force to about 7 percent of the company’s employee base, including salaried, hourly and temporary contract employees as well as losses due to attrition.
“Nordam is progressing through a typical aerospace business cycle, and we believe the low point of that cycle is behind us,” Ken Lackey, the company’s executive chairman, told AIN. “The year ahead will continue to show improvement and 2012 should be the beginning of the next major growth cycle for aerospace and Nordam. We have a substantial backlog of programs that will drive future growth, and a management team and board capable of taking advantage of strategic opportunities that will be available to Nordam in the years ahead.”
More In Maintenance and Modifications
