Tuesday, January 8, 2013
Lockheed Martin to Acquire Aveos Engine MRO Business
Lockheed Martin Canada has a new purchase agreement to acquire the aircraft engine maintenance, repair and overhaul (MRO) unit of Montreal-based Aveos Fleet Performance.
The two companies did not disclose the financial terms of the transaction, which is subject to regulatory approval.
Lockheed said the acquisition will give its aeronautics engine MRO business unit the capability to perform engine maintenance on the CF34 and CFM56 engine families, which power regional Embraer jets and the Airbus A320 family aircraft.
"This expansion into the commercial engine maintenance, repair and overhaul industry is a natural progression of our strategy to grow our business," said Larry Lawson, executive vice president of Lockheed Martin’s aeronautics division. "By leveraging the commercial strengths of our existing aeronautics team at Kelly Aviation Center in San Antonio, we can build on natural synergies that exist to provide innovative MRO offerings that will benefit our customers." More