Northstar Announces Organizational Changes

CHICAGO, IL, Feb. 8, 2012 /CNW/ - Northstar Aerospace, Inc. (TSX: NAS) (the "Corporation") announced today that, in accordance with the forbearance agreement with its syndicate of lenders, it has contracted with FTI Consulting Canada Inc.(FTI) to provide Chief Restructuring Officer (CRO) services to the Corporation. FTI will provide financial, strategic and restructuring advice, and assist with management of liquidity requirements, among other duties.

The Corporation further announced that Craig Yuen has been appointed Senior Vice President and Chief Financial and Strategy Officer.  Greg Schindler, the Corporation's prior Chief Financial Officer, has left the Corporation effective today.  Mr. Yuen has served as the Corporation's Chief Strategy Officer since November 2009.

Northstar Aerospace, Inc. (www.nsaero.com) is North America's leading independent manufacturer of flight critical gears and transmissions.  Northstar Aerospace is a public company (TSX:NAS) with operating subsidiaries in the United States and Canada.  Its principal products include helicopter gears and transmissions, accessory gearbox assemblies, rotorcraft drive systems and other machined and fabricated parts.  It also provides maintenance, repair and overhaul of components and transmissions. The Company's executive offices are located in Chicago, Illinois.  Its plants are located in Chicago, Illinois; Phoenix, Arizona; Milton and Windsor, Ontario, Canada.

Craig Yuen, Chief Financial and Strategy Officer, at [email protected] or 708-728-2121