Vector Buys UK MoD’s DARA Helicopter Facilities
Vector Aerospace Corporation of Toronto, Canada has signed a definitive GBP 17 million (about $34 million) purchase and sale agreement with the British Secretary of State for Defence, through its that Vector Aerospace International Limited subsidiary. They will acquire the Defence Aviation and Repair Agency (DARA) Rotary Wing and Components businesses, adding its locations and workers to the firm’s existing facilities in Canada, the United States and the United Kingdom. Vector’s sites maintain various types of gas turbine engines, components and helicopter structures for commercial and military customers. According to the firm’s release, their goal is to create “a European centre of excellence in helicopter maintenance.”
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The UK deal adds the helicopter repair facilities located at Fleetlands, Portsmouth, which performs maintenance, repair and overhaul support for Chinook (CH-47), Lynx and Sea King helicopters; and the helicopter component and repair facilities located at Almondbank that serve a wider variety of helicopter platforms and customers. The transaction is expected to be completed during the first quarter of 2008.
Vector’s UK operation Sigma Aerospace, at Croydon, England, currently supports the RAF’s C-130 Hercules tactical transport and VC10 aerial tanker fleets. UK MoD release | Vector release [PDF] | Minister’s statement [PDF]
