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Eurocopter to acquire Vector Aerospace Corporation
- Eurocopter Holding, a subsidiary of EADS and Vector Aerospace
Corporation a Canadian company listed on the Toronto Stock
Exchange, have entered into a Support Agreement pursuant to which
Eurocopter Holding will acquire all of the issued and outstanding common
shares of Vector Aerospace.
The offer values Vector Aerospace equity at approximately C$625 million.
Vector Aerospace, a leading provider of multi-platform helicopter maintenance, repair and overhaul (MRO) services and of rotary and fixed-wing aircraft engine repair & overhaul, will become Eurocopter Holdings independent multi-platform MRO services provider. Vector Aerospace, which employs some 2,500 persons, is principally located in Canada and the United Kingdom, and enjoys an important presence in the United States and South Africa.
Vector Aerospace will maintain and develop its world-renowned brand name. In 2010, Vector Aerospace generated a turnover of 545 million Canadian dollars (400 million euros), roughly the equivalent of a quarter of Eurocopters current Support and Services turnover of 1.7 billion euros.
The acquisition of Vector Aerospace constitutes a key step towards the achievement of EADS strategic goals Vision 2020 and is a catalyst for the growth of Support & Services with a focus on the high end segment and the servicing of multi-customer platforms both in the civil and governmental markets.
Already present in the small engine MRO segment through its SECA holding, EADS will be able to improve its commercial and geographical coverage as well as enhance its service offering in that field.
Completion of the transaction will enable Eurocopter to capitalize on its own commercial network together with Vector Aerospace’s offering in order to position itself as a leading global multi-platform service provider with an extended presence in North America and the UK.
