Vector Aerospace to Buy MOD Defence Aviation and Repair Agency Rotary Wing and Components Businesses.
PR Newswire Europe, February, 2008
LONDON, February 5 /PRNewswire/ -- Vector Aerospace Corporation, the Canadian aerospace company, announced today that its wholly-owned subsidiary, Vector Aerospace International Limited, has entered into a definitive purchase and sale agreement with the Secretary of State for Defence to acquire the Defence Aviation and Repair Agency (DARA) Rotary Wing and Components businesses in consideration of GBP17 million.
The transaction involves the helicopter repair facilities located at Fleetlands and the helicopter component and repair facilities located at Almondbank. The transaction is expected to be completed during the first quarter of 2008.
The Fleetlands facility in Portsmouth provides maintenance, repair and overhaul support for the MOD Chinook...
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