1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

(Mark One)

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 For the fiscal year ended December 30, 2000.

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

for the transition period from to .

Commission file number 0-14275
------------------------------

Edac Technologies Corporation
-----------------------------
(Exact Name of Registrant as Specified in Its Charter)

Wisconsin 39-1515599
(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)

1806 New Britain Avenue, Farmington, Connecticut 06032
(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (860)-677-2603

Securities registered pursuant to Section 12(b) of the Act:

Name of Each Exchange
Title of Each Class on Which Registered
------------------- -------------------

N/A N/A

Securities registered pursuant to Section 12(g) of the Act:

Common Stock, $.0025 par value
------------------------------
(Title of class)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X No__.

Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]
2
As of March 16, 2001, 4,319,080 shares of Common Stock were outstanding,
and the aggregate market value of the Common Stock (based upon the $1.75 closing
price on that date on the OTC Bulletin Board) held by nonaffiliates (excludes
shares reported as beneficially owned by directors and officers - does not
constitute an admission as to affiliate status) was approximately $6,596,195.

DOCUMENTS INCORPORATED BY REFERENCE

Part of Form 10-K
Into Which Portions of
DOCUMENT Document are Incorporated
-------- -------------------------

Annual Report to Shareholders for the
fiscal year ended December 30, 2000 Part II

Proxy Statement relating to
2001 Annual Meeting of Shareholders Part III

All statements other than historical statements contained in this report on Form
10-K or deemed to be contained herein due to incorporation by reference to a
different document constitute "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Without limitation, these
forward looking statements include statements regarding the Company's business
strategy and plans, statements about the adequacy of the Company's working
capital and other financial resources, statements about the Company's bank
agreement, statements about the Company's backlog, statements about the
Company's actions to improve operating performance, and other statements herein
that are not of a historical nature. These forward-looking statements rely on a
number of assumptions concerning future events and are subject to a number of
uncertainties and other factors, many of which are outside of the Company's
control, that could cause actual results to differ materially from such
statements. These include, but are not limited to, factors which could affect
demand for the Company's products and services such as general economic
conditions and economic conditions in the aerospace industry and the other
industries in which the Company competes; competition from the Company's
competitors; the Company's ability to reduce costs; the Company's ability to
complete its proposed asset sale transaction with Tomz Corporation and the terms
of such transaction if completed; the Company's ability to effectively use
business-to-business tools on the Internet to improve operating results; the
adequacy of the Company's revolving credit facility and other sources of
capital. The Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise.
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PART I

ITEM 1. BUSINESS.

General

Edac Technologies Corporation ("Edac" or the "Company") was formed in 1985
for the purpose of acquiring Gros-Ite Industries, Incorporated (which had three
operating divisions: Time Engineering, Gros-Ite and Spectrum). In 1988 and 1989,
Edac sold the assets of the Time Engineering and Spectrum operations. On June
29, 1998 Edac purchased certain assets and liabilities of the Apex Machine Tool
Company, Inc.

Information relating to Edac's four business segments is contained in
"Management's Discussion and Analysis of Results of Operations and Financial
Condition" and in Note I to the Consolidated Financial Statements in Edac's 2000
Annual Report to Shareholders incorporated by reference herein.

Products

Edac currently offers design and manufacturing services for a wide range
of industries in areas such as special tooling, equipment and gauges, and
components used in the manufacture, assembly and inspection of jet engines.
Edac also specializes in the design and repair of precision spindles. Spindles
are an integral part of numerous machine tools which are found in virtually any
type of manufacturing environment.

Edac maintains manufacturing facilities with computerized, numerically
controlled machining centers, grinding, welding, and sheet metal fabrication,
painting and assembly capabilities. Items manufactured by Edac include precision
rings, and other components for jet engines, industrial spindles and specialized
machinery designed by Edac or others and other assemblies requiring close
tolerances.

Patents and Trademarks

Edac currently holds no patents or registered trademarks, tradenames or
similar intellectual property. The Company believes that the nature of its
business presently does not require the development of patentable products or
registered tradenames or trademarks to maintain market growth.

Marketing and Competition

Edac Technologies provides complete design, manufacture and service
meeting the precision requirements of some of the most exacting customers in the
world for tooling, fixtures, molds, jet engine components and machine spindles.
The company developed its high skill level serving the aerospace industry for
over 50 years. In addition EDAC has expanded its commitment to serving the
manufacturing needs of a broad base of industrial customers.

For the fiscal year ended December 30, 2000, approximately 45% of Edac's
net sales were to United Technologies Corporation. We expect to
4
continue to diversify our customer base. We expect that our sales to United
Technologies Corporation would decrease significantly if we complete the pending
sale of our Engineered Precision Components Division as described in
Management's Discussion and Analysis of Financial Condition and Results of
Operations section of this report.

The competition for design, manufacturing and service in precision
machining and machine tools consists of independent firms, many of which are
smaller than EDAC. This allows us to bring a broader spectrum of support to our
customers who are consistently looking for ways to consolidate their vendor
base. The company also competes against the in-house manufacturing and service
capability of our larger customers. The trend by large manufacturers to
outsource activities that are outside their core competency is a current
advantage for EDAC.

The market for our products and precision machining capabilities is also
opening up through the development of more sophisticated use of
business-to-business tools on the internet. We are actively involved in securing
new business leads on the internet and have participated in internet auctions
for precision components. The sales and marketing team at Edac is evaluating
potential partners to further develop our e-commerce strategy and extend the
reach of our current capabilities.

The target marketing activity, particularly in the APEX and Gros-Ite
Spindle divisions in 2000 has resulted in the opening of over 40 new customers
for continuing business. The business from these new customers offset some of
the reduction from some of our long-standing customers and was critical in
generating the strong performance we achieved in the fourth quarter of 2000.

Edac Technologies has a distinct competitive advantage in our ability to
provide high quality, high precision, quick turnaround support to customers from
design to delivery. Our experience and reputation in the demanding aerospace
business provides an extra level of experience in meeting our customers'
requirements. We believe our commitment to continuous improvement and the latest
technology will generate productivity improvements required to respond to the
increasing price pressure in the competitive marketplace.

Backlog

Edac's backlog as of December 30, 2000, was approximately $32,000,000
compared to $29,800,000 as of January 1, 2000. Backlog consists of accepted
purchase orders that are cancelable by the customer without penalty, except for
payment of costs incurred, and may involve delivery times that extend over
periods as long as three years. Edac presently expects to complete approximately
$21,500,000 of its December 30, 2000 backlog during the 2001 fiscal year.

Employees

As of March 22, 2001, Edac had approximately 249 employees.
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ITEM 2. PROPERTIES.

The properties at 1790 and 1798 New Britain Avenue were renovated in 1997
to improve production, increase capacity and improve the appearance of both the
interior and exterior. The building at 1806 New Britain Avenue was constructed
in 1995 for the Company's developing Large Machining operation.

Square Owned or Principal
Address Feet Leased Activity
- - ------- ---- ------ --------

1790 New Britain Ave. 47,000 Owned Manufacturing
Farmington, CT. 06032 * Design engineering
services

1798 New Britain Ave. 20,800 Owned Design and manu-
Farmington, CT. 06032 * facture of spindles

1806 New Britain Ave. 19,200 Owned Manufacturing
Farmington, CT. 06032 *

21 Spring Lane 44,000 Owned Manufacturing
Farmington, CT 06032 * Design engineering
services

1838 New Britain Ave. 3,000 Leased Warehouse
Farmington, CT. 06032

* Property subject to mortgage securing certain corporate indebtedness.

ITEM 3. LEGAL PROCEEDINGS.

Edac is not a party to any material pending legal proceedings.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No matters were submitted to a vote of security holders during the fourth
quarter of the fiscal year ended December 30, 2000.

PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

Information in response to this item is incorporated herein by reference
to "Market Information" on page 4 of Edac's 2000 Annual Report to Shareholders.
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ITEM 6. SELECTED FINANCIAL DATA.

Information in response to this item is incorporated herein by reference
to "Selected Financial Information" on page 5 of Edac's 2000 Annual Report to
Shareholders.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

Information in response to this item is incorporated herein by reference
to "Management's Discussion and Analysis of Financial Condition and Results of
Operations" on pages 6 through 10 of Edac's 2000 Annual Report to Shareholders.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK.

The Company does not invest in derivative financial instruments, other
financial instruments or derivative commodity instruments. Refer to Note C to
Consolidated Financial Statements for a summary of the Company's debt
obligations.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

Information in response to this item is incorporated herein by reference
to pages 11 through 31 of Edac's 2000 Annual Report to Shareholders.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

None.

PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

Information in response to this item is incorporated herein by reference
to "Election of Directors" in Edac's definitive Proxy Statement for its 2001
Annual Meeting of Shareholders ("Edac's 2001 Proxy Statement"), which will be
filed within 120 days after the end of Edac's fiscal year ended December 30,
2000.

ITEM 11. EXECUTIVE COMPENSATION.

Information in response to this item is incorporated herein by reference
to "Executive Compensation" in Edac's 2001 Proxy Statement.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

Information in response to this item is incorporated herein by
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reference to "Security Ownership" in Edac's 2001 Proxy Statement.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

NONE.

PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULE, AND REPORTS ON FORM 8-K.

(a) Documents filed:

1. Financial Statements.

The financial statements required to be filed by Item 8 hereof
have been incorporated by reference to Edac's 2000 Annual
Report to Shareholders and consist of the following:

Report of Independent Public Accountants

Consolidated Statements of Operations -- Years Ended
December 30, 2000, January 2, 2000 and January 2, 1999.

Consolidated Balance Sheets -- As of December 30, 2000
and January 1, 2000.

Consolidated Statements of Cash Flows--Years ended
December 30, 2000, January 1, 2000 and January 2, 1999.

Consolidated Statements of Changes in Shareholders'
Equity--Years ended December 30, 2000, January 1, 2000
and January 2, 1999.

Notes to Consolidated Financial Statements.

2. Financial statement schedule.

The following financial statement schedule of Edac is included
in Item 14(d) hereof:

Report of Independent Public Accountants on Schedule

Schedule II: Valuation and qualifying accounts
8
All other schedules for which provisions are made in the applicable
accounting regulation of the Securities and Exchange Commission are not required
under the related instructions or are inapplicable, and therefore have been
omitted.

(b) Reports on Form 8-K

Edac did not file any reports on Form 8-K during the last quarter of
the period covered by this Form 10-K.

See Exhibit Index included as the last part of this Report, which
Index is incorporated herein by this reference.

(d) Financial Statements and Schedules

Refer to Item 14(a) above for listing of financial statements and
schedule.
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REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To the Shareholders and Board of Directors of
Edac Technologies Corporation:

We have audited in accordance with auditing standards generally accepted in the
United States, the financial statements included in Edac Technologies
Corporation's annual report to shareholders incorporated by reference in this
Form 10-K, and have issued our report thereon dated February 9, 2001, except for
the matter discussed in Note K as to which the date is March 29, 2001. Our audit
was made for the purpose of forming an opinion on those statements taken as a
whole. The schedule presented on Schedule II of this Form 10-K is the
responsibility of the Company's management and is presented for purposes of
complying with the Securities and Exchange Commission's rules and is not part of
the basic financial statements taken as a whole. This schedule has been
subjected to the auditing procedures applied in the audit of the basic
consolidated financial statements and, in our opinion, fairly state in all
material respects the financial data required to be set forth therein in
relation to the basic consolidated financial statements taken as a whole.

/s/Arthur Andersen LLP

Hartford, Connecticut
February 9, 2001
10

- - ------------------------------------------------------------------------------------------------------------------------------------
COL. A COL. B COL. C COL. D COL. E
- - ------------------------------------------------------------------------------------------------------------------------------------
ADDITIONS
Charged
Balance Charged to Other Balance
at Beginning to Costs Accounts- Deductions at End
DESCRIPTION of Year and Expenses Describe Describe of Year
- - ------------------------------------------------------------------------------------------------------------------------------------

YEAR ENDED DECEMBER 30, 2000:
Reserves and allowances deducted
from asset accounts:

Allowance for
doubtful accounts ............... $ 207,000 $ 13,474 0(1) $ 20,474 $ 200,000

Allowance for excess and obsolete
inventory and loss contracts .... 1,029,000 56,498 0(3) 30,498 1,055,000

Reserve for certain machinery and
equipment held for sale ......... 600,000 0 0(4) 220,057 379,943

YEAR ENDED JANUARY 1, 2000:
Reserves and allowances deducted
from asset accounts:

Allowance for
doubtful accounts ............... 160,000 71,959 0(1) 24,959 207,000

Allowance for excess and obsolete
inventory and loss contracts .... 409,000 1,029,000 0(3) 409,000 1,029,000

Reserve for certain machinery and
equipment held for sale ......... 0 600,000 0 0 600,000

YEAR ENDED JANUARY 2, 1999:
Reserves and allowances deducted
from asset accounts:

Allowance for
doubtful accounts ............... 125,000 55,657(2) 60,000(1) 80,657 160,000

Allowance for excess and obsolete
inventory and loss contracts .... 300,000 109,000 0 0 409,000

(1) Represents write-off of specific accounts receivable.

(2) Result of Apex Machine Tool Company Inc. acquisition on June 30, 1998.

(3) Represents disposition of inventory reserved against.

(4) Represents disposition of equipment reserved against.
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SIGNATURES

Pursuant to the requirements of section 13 or 15 (d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf on March 26, 2001 by the undersigned, thereunto duly authorized.

EDAC TECHNOLOGIES CORPORATION

BY /s/Richard A. Dandurand
----------------------------
Richard A. Dandurand,
Chief Executive Officer

Each person whose signature appears below hereby appoints Richard A. Dandurand
and Ronald G. Popolizio, and each of them individually, his true and lawful
attorney-in-fact, with power to act with or without the other and with full
power of substitution and resubstitution, in any and all capacities, to sign any
and all amendments to the Form 10-K and file the same with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents full power and
authority to do and perform each and every act and thing requisite and necessary
to be done in and about the premises, as fully to all intents and purposes as he
might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or their substitutes, may lawfully cause to be
done by virtue hereof.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.

Signatures Title Date

/s/Richard A. Dandurand Chief Executive Officer March 26, 2001
- - ------------------------------ and a Director
Richard A. Dandurand

/s/John J. DiFrancesco Chairman of the Board March 29, 2001
- - ------------------------------
John J. DiFrancesco

/s/Ronald G. Popolizio Executive Vice President March 26, 2001
- - ------------------------------ and Chief Financial Officer
Ronald G. Popolizio (Principal Financial and
Accounting Officer)

Signatures Title Date

/s/George Fraher Director March 27, 2001
- - ------------------------------
George Fraher

/s/Robert J. Gilchrist Director March 26, 2001
- - ------------------------------
Robert J. Gilchrist

/s/John M. Kucharik Director March 29, 2001
- - ------------------------------
John M. Kucharik

/s/Stephen J. Raffay Director March 26, 2001
- - ------------------------------
Stephen J. Raffay

/s/Daniel C, Tracy Director March 26, 2001
- - ------------------------------
Daniel C. Tracy

13
EXHIBIT INDEX

Exhibit Sequential
Number Page Number
- - ------ -----------

3.1 Edac's Amended and Restated (1)
Articles of incorporation

3.2 Edac's By-Laws (5)

4.1 Edac's Amended and Restated (1)
Articles of incorporation

4.2 Sections of Edac's By-Laws (5)

10.1 Consulting Agreement between (1)
Gros-Ite and William Giannone

10.2 Gros-Ite division Pension Plan (1)

10.3 Edac Technologies Corporation (2)
Employee Stock Ownership Trust,
effective May 1, 1989

10.4 $700,000 Limited Recourse Term (2)
Promissory Note dated May 12, 1989
between the Plan and CNB

10.5 Edac Technologies Corporation (3)
1991 Stock Option Plan

10.6 $4,000,000 Term Promissory Note (4)
dated March 22, 1993 between
Edac and Shawmut

10.7 Construction to Permanent Loan (5)
Promissory Note

10.8 Open-End Construction to Permanent (5)
Mortgage Deed

10.9 Sixth Amendment to Revolving Loan, (5)
Term Loan, Equipment Loan and
Security Agreement

10.10 Modification of Construction to (5)
Permanent Loan Promissory Note
and Open-End Construction to
Permanent Mortgage Deed

10.11 Seventh Amendment to Revolving Loan, (5)
Term Loan, Equipment Loan and
Security Agreement and
Reaffirmation of Guarantees

10.12 Eighth Amendment to Revolving Loan, (5)
Term Loan, Equipment Loan and
Security Agreement and
Reaffirmation of Guarantees,
Modification of Notes and
Reaffirmation of Guarantees

10.13 Seventh Modification Agreement to (5)
Open-End Mortgage Deed

10.14 Second Modification of Construction (5)
to Permanent Loan Promissory Note
and Open-End Construction to
Permanent Mortgage Deed

10.15 Edac Technologies Corporation (6)
1996 Stock Option Plan

10.16 Ninth Amendment to Revolving loan, Term (7)
Loan, Equipment Loan and Security Agreement,
Modification of Notes and Reaffirmation of
Guarantees dated as of March 27, 1997 by and
between Edac and Fleet National Bank

10.17 Amended and Restated Revolving Promissory (7)
Note dated of as of March 27, 1997 by and
between Edac and Fleet National Bank

10.18 Equipment Promissory Note III dated as of March (7)
27, 1997 by and between Edac and Fleet
National Bank

10.19 Amended and Restated Promissory Note dated March (7)
27, 1997 by and between Edac and Fleet
National Bank

10.20 Eighth Modification Agreement to Open-End (7)
Mortgage Deed dated March 27, 1997 by and between
Edac and Fleet National Bank

10.21 Third Modification of Construction to (7)
Permanent Loan Promissory Note and Open-End
Construction to Permanent Mortgage Deed dated
March 27, 1997 by and between Edac and Fleet
National Bank

10.22 Asset Purchase Agreement dated as of May 13, 1998 (8)
by and among Edac, Apex Acquisition Corp., Apex

Machine Tool Company, Inc., Gerald S. Biondi,
James G. Biondi and Michael Biondi.

10.23 Purchase Agreement dated as of May 13, 1998 by and (8)
between Edac, Gerald S. Biondi, James G. Biondi and Michael
Biondi providing for the acquisition of the real estate
located at 17 and 21 Spring Lane, Farmington, Connecticut.

10.24 Guaranty Agreement dated as of June 30, 1998 by and (8)
among Edac, as guarantor, Apex Acquisition Corporation,
Gerald S. Biondi, James G. Biondi and Michael Biondi
pursuant to which Edac has guaranteed all of the
obligations of Apex Acquisition Corporation under the real
estate purchase agreement.

10.25 Promissory note payable by Apex Acquisition Corporation (8)
to Gerald S. Biondi, James G. Biondi and Michael Biondi
under the real estate purchase agreement.

10.26 Purchase agreement dated as of May 13, 1998 by and (8)
between Edac, Gerald S. Biondi and James G. Biondi
providing for the acquisition, after the satisfaction of
certain pre-closing conditions, by Edac Technologies
Corporation or its wholly-owned subsidiary of the property
located at 55 Spring Lane, Farmington, Connecticut.

10.27 Eleventh Amendment to Loans and Security Agreement, (8)
Modification of Notes and Reaffirmation of Guaranties dated
as of June 30, 1998 by and among Fleet National Bank, Edac,
Gros-Ite Industries, Inc. and Apex Acquisition Corporation.

10.28 Second Amended and Restated Promissory Note dated as (8)
of June 30, 1998 in the original principal amount of $13
million payable by Edac Technologies Corporation to Fleet
National Bank.

10.29 Term Promissory Note dated June 30, 1998 in the (8)
principal amount of $14 million payable by Edac
to Fleet National Bank.

10.30 Fourth Modification of Construction to Permanent Loan (8)
Promissory Note and Open-End Construction to Permanent
Mortgage Deed dated as of June 30, 1998 by and among Edac
and Fleet National Bank.

10.31 Ninth Modification Agreement to Open-End Mortgage Deed (8)
dated as of June 30, 1998 by and between Edac
and Fleet National Bank.

10.32 Guaranty Agreement dated as of June 30, 1998 from each (8)
of Apex Acquisition Corporation and Gros-Ite Industries,
Inc. to Fleet National Bank.

10.33 Open-End Mortgage Deed, Security Agreement, Collateral (8)
Assignment of Rents and Financing Statement dated as of
June 30, 1998 by and between Edac and Fleet National Bank.

10.34 Security Agreement dated as of June 30, 1998 by and (8)
between Apex Acquisition Corporation and Fleet
National Bank.

10.35 Hazardous Substances Indemnity Agreement dated as of (8)
June 30, 1998 by and among Edac, Apex Acquisition
Corporation, Gros-Ite Industries, Inc. and Fleet
National Bank.

10.36 Agreement Regarding Purchase Price Adjustments dated (9)
September 24, 1998 by and between Edac, Apex Machine
Tool Company, Inc., Biondi Tool Company, Inc., Gerald
S. Biondi, James G. Biondi and Michael Biondi.

10.37 Edac Technologies Corporation 1998 Stock
Option Plan (10)

10.38 Tenth Amendment to Revolving Loan, Term (10)
Loan, Equipment Loan and Security Agreement,
Modification of Notes and Reaffirmation of
Guarantees

10.39 Equipment Promissory Note IV (10)

10.40 Twelfth Amendment to Loans and Security (10)
Agreement,Modification of Notes and
Reaffirmation of Guaranties

10.41 Employment contract, dated November 20, 1998, (10)
between Edac and Edward J. McNerney

10.42 Change of Control Agreement, dated January 29, (11)
1999, between Edac Technologies Corporation
and Ronald G. Popolizio

10.43 Employment contract, dated June 23, 1999, (12)
between Edac and Ronald G. Popolizio

10.44 Termination and Release Agreement, dated October (13)
22, 1999, between Edac and Edward J. McNerney

10.45 Forbearance Agreement dated as of October 29, (13)
1999 by and between Edac and Fleet National

Bank

10.46 Third Amended and Restated Revolving Promissory (13)
Note dated as of October 29, 1999 by and between
Edac and Fleet National Bank

10.47 First Amendment To Forbearance Agreement dated as (14)
of December 30, 1999 by and between Edac and
Fleet National Bank

10.48 Stock Pledge Agreement dated as of (14)
January 26, 2000 by and between Edac
and Fleet National Bank

10.49 Second Amendment to Forbearance Agreement (14)
dated as of April 30, 2000 by and between Edac
and Fleet National Bank

10.50 Third Amendment to Forbearance Agreement (14)
dated as of June 3, 2000 by and between Edac
and Fleet National Bank

10.51 Fourth Amendment to Forbearance Agreement (14)
Dated July 31, 2000 by and between Edac
and Fleet National Bank

10.52 Agreement for Extension of Expiration Date (14)
Pegos Machine Corp. dated as of March 31, 2000

10.53 Second Agreement for Extension of Expiration (14)
Date Pegos Machine Corp. dated as of
May 31, 2000

10.54 Third Agreement for Extension of Expiration (14)
Date Pegos Machine Corp. dated as of
July 31, 2000

10.55 Consulting Agreement between John DiFrancesco (14)
and Edac dated June 1, 2000

10.56 Fifth Amendment to Forbearance Agreement (15)
dated as of August 11, 2000 by and between Edac
and Fleet National Bank

10.57 Sixth Amendment to Forbearance Agreement (15)
dated as of August 22, 2000 by and between Edac
and Fleet National Bank

10.58 Seventh Amendment to Forbearance Agreement (15)
Dated September 7, 2000 by and between Edac

and Fleet National Bank

10.59 Fourth Agreement for Extension of Expiration Date (15)
Pegos Machine Corp. dated as of August 11, 2000

10.60 Fifth Agreement for Extension of Expiration (15)
Date Pegos Machine Corp. dated as of
August 22, 2000

10.61 Sixth Agreement for Extension of Expiration (15)
Date Pegos Machine Corp. dated as of
September 7, 2000

10.62 Loan and Security Agreement dated September 29, 2000 (15)
among General Electric Capital Corp., Edac and
Apex Machine Tool Company Inc. as borrowers

10.63 Leading Borrower's and Second Borrower's Revolving (15)
Credit Notes dated as of September 29, 2000 by and between
General Electric Capital Corporation and Edac

10.64 Term Note A-1 dated September 29, 2000 by and between (15)
General Electric Capital Corporation and Edac
Technologies Corporation

10.65 Term Note A-2 dated September 29, 2000 by and between (15)
General Electric Capital Corporation and Apex Machine
Tool Company, Inc.

10.66 Pledge Agreement dated September 29, 2000 by and (15)
between General Electric Capital Corporation and
Edac

10.67A Escrow and Forbearance Agreement dated (15)
September 29, 2000 by and between Fleet National Bank
and Edac

10.67B Amended and Restated Term Note dated (15)
September 29, 2000 by and between Fleet National
Bank and Edac

10.67C Security Agreement dated September 29, 2000 by and (15)
between Fleet National Bank and Edac

10.67D Mortgage Modification Agreement dated (15)
September 29, 2000 by and between Fleet National
Bank and Edac

10.68 Intercreditor and Subordination Agreement dated (15)
September 29, 2000 by and between Fleet National
Bank, General Electric Capital Corp. and Edac

10.70 Agreement for the Purchase and Sale of Real Estate
Dated September 28, 2000 by and between Edac and Globe
Corporation

10.71 Edac Technologies Corporation 2000 Stock Option Plan

10.72 Edac Technologies Corporation 2000-B Stock Option Plan

10.73 Employment contract between Edac and
Richard A. Dandurand dated December 1, 2000

10.74 Change of Control Agreement dated December 1, 2000 between
Edac and Richard A. Dandurand

10.75 Second Amendment of Note dated December 28, 2000
by and among Apex Acquisition Corp. and Gerald S.
Biondi, James G. Biondi and Michael Biondi.

11 Earnings per share information has been
incorporated by reference to Edac's 2000
Annual Report to Shareholders

13 Edac's 2000 Annual Report to Shareholders

21 Subsidiaries

23 Consent of Arthur Andersen LLP,
independent public accountants

24 Power of Attorney (16)

(1) Exhibit incorporated by reference to the Company's registration statement
on Form S-1 dated August 6, 1985, commission File No. 2-99491, Amendment
No. 1.

(2) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended December 31, 1989.

(3) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended December 31, 1991.

(4) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended December 31, 1993.

(5) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended December 31, 1995.

(6) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended December 31, 1996.
20
(7) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended March 31, 1997.

(8) Exhibit incorporated by reference to the Company's Current Report on Form
8-K dated June 30, 1998.

(9) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended July 4, 1998.

(10) Exhibit incorporated by reference to the Company's Annual Report on Form
10-K for the year ended January 2, 1999.

(11) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended April 3, 1999.

(12) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended July 3, 1999.

(13) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended October 2, 1999.

(14) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended July 1, 2000.

(15) Exhibit incorporated by reference to the Company's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2000.

(16) Included as part of the signature page hereof.