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Monday, March 28, 2011

Vector Board Approves Eurocopter Takeover

EADS subsidiary Eurocopter Holding has agreed to acquire Canadian helicopter maintenance, repair and overhaul provider Vector Aerospace Corp. Valued at C$625, or C$13 per common share, the support agreement calls for Eurocopter to acquire all issued and outstanding common shares in Vector. EADS CEO Louis Gallois said the acquisition “perfectly fits” the company’s Vision 2020 strategy, which calls for more international support services for both civil and military helicopters, specifically in North America. Eurocopter CEO Lutz Bertling added “the complementary nature of our worldwide network of subsidiaries and Vector Aerospace’s own network will enable us to develop our activities jointly, both faster and more efficiently.”
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