Acquire Vector Aerospace Corporation
By Shane Nolan
March 29, 2011 - Eurocopter Holding, a subsidiary of EADS and Vector Aerospace Corporation a Canadian company, have entered into a Support Agreement.
to which Eurocopter Holding will acquire all of the
issued and outstanding common shares of Vector Aerospace
by way of a take-over bid for consideration of C$13 in
cash per Common Share (the Offer).
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 Holding?s independent multi-platform MRO services provider.
Aerospace, which employs some 2,500 persons, is principally
acquisition of Vector Aerospace constitutes a key step towards
the achievement of EADS? strategic goals, Vision 2020. This
acquisition 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
Aerospace will also strengthen EADS? presence in
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
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
Louis Gallois, CEO
of EADS, stated: ?This acquisition perfectly fits EADS? Vision 2020
strategy, increasing services, strengthening the helicopter business,
international and more specifically North American exposure while
keeping a good balance between military and civil activities. It is also
an excellent investment opportunity for Eurocopter, as Vector Aerospace
has proven resilient and profitable growth. EADS sees in this
acquisition a potential for synergies and value creation for our
The acquisition of Vector Aerospace is a major step towards expanding Eurocopter?s Support and Services footprint into new areas, such as the maintenance of engines and non-Eurocopter products.
According to Lutz
Bertling, CEO of Eurocopter Holding, ?This opportunity will provide the
Eurocopter group with a high-level of expertise, especially in
public-private partnerships for the maintenance on governmental
aircraft. 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. Vector
Aerospace will be managed as an independent multi-customer platform
Declan O?Shea, CEO
of Vector Aerospace, stated: ?We are delighted to join EADS and
Eurocopter. We believe that being part of the Eurocopter group will
allow Vector Aerospace and our people to pursue our long history of
profitable growth and excellent levels of quality and customer service.
Vector Aerospace?s business will be complementary to Eurocopter?s
services activities, in serving multi-customer platforms.?
Completion of the Offer is subject to usual and customary conditions including, but not limited to, a minimum of 66?% of the Common Shares of Vector Aerospace being tendered to the Offer, as well as the obtaining of regulatory approvals. A take-over bid circular in connection with the Offer will be mailed to Vector Aerospace shareholders shortly.
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