Gales Industries Incorporated is primarily engaged in manufacturing aircraft structural parts and assemblies principally for prime defense contractors in the aerospace industry in the United States through its wholly owned subsidiary, Air Industries Machining Corporation (AIM). Approximately 85% of AIM's revenues are derived from sales of parts and assemblies directed toward military applications, although direct sales to the military (United States and North Atlantic Treaty Organization) constitute less than 8.5% of AIM's revenues. The remaining 15% of revenues represent sales in the airframe manufacturing sector to major aviation manufacturers, such as Boeing. AIM is also a provider of flight critical, technically complex structures. AIM's parts are installed onboard Sikorky's VH-3D, otherwise known as Marine One, the primary Presidential helicopter, and on Air Force One, Boeing's 747-2000B customized for use by the President. AIM has evolved from being an individual parts manufacturer to being a manufacturer of subassemblies (i.e. being an assembly constructor) and an engineering integrator. AIM produces over 2,400 individual products that are assembled by a skilled labor force into electromechanical devices, mixer assemblies, and rotorhub components for Blackhawk helicopters, rocket launching systems for the F-22 Raptor Advanced Stealth Fighter, arresting gear for E2C Hawkeye and other United States Navy Fighters, vibration absorbing assemblies for a variety of Sikorsky helicopters, landing gear components for the F-35 Joint Strike Fighter, and many other subassembly packages. AIM is also a supplier of flight safety components for Sikorsky. This business accounted for approximately 51% of AIM's revenues during 2005. On November 14, 2005, the Company, then known as Ashlin Development Corporation, and its wholly owned subsidiary (Merger Sub) entered into a Merger Agreement with Gales Industries Incorporated (Original Gales). On November 30, 2005, Original Gales merged into Merger Sub. As a result of the transaction, the former stockholders of Original Gales became the controlling stockholders of the Company. Additionally, since the Company had no substantial assets immediately prior to the Merger, the transaction was treated for accounting purposes as a reverse acquisition and the transaction has been accounted for as a recapitalization of Original Gales rather than a business combination. On February 15, 2006, the Company changed its name from Ashlin Development Corporation to Gales Industries Incorporated. Prior to the closing of the Merger, Original Gales acquired all of the outstanding capital stock of AIM, pursuant to a Purchase Agreement entered into on July 25, 2005. As a consequence of the Merger, AIM became a wholly owned subsidiary of the Company, through which it manufactures aircraft structural parts and assemblies principally for prime defense contractors in the aerospace industry, including, Sikorsky, Lockheed Martin, Boeing and Northrop Grumman. AIM competes with Monitor Aerospace, a division of Stellex Aerospace, Hydromil, a division of Triumph Aerospace Group, Heroux Aerospace and Ellanef Manufacturing, a division of Magellan Corporation.

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