Lockheed Martin Canada has agreed to acquire some assets from Aveos Fleet Performance Inc. in a move aimed at increasing Lockheed’s presence in Canada's engine maintenance and repair industry.
Lockheed did not disclose terms of its agreement with the Montreal-based aerospace firm.
“We look forward to expanding our corporation's presence in Canada, and plan to begin engine MRO operations for commercial and military customers later this year,” said Marillyn Hewson, chairman and CEO.
Larry Lawson, executive vice president for aeronautics added, “this expansion into the commercial engine maintenance, repair and overhaul industry is a natural progression of our strategy to grow our business.”
Upon completion of the transaction, Lockheed will name its Canada-based engine repair facility the Kelly Aviation Center Montreal and integrate it into the maintenance, repair and overhaul line of business within its aeronautics center.
Lawson said the company plans to hire personnel from Alveo to work at the Montreal center.
Aveos' engine MRO assets service the CF34 engine family that powers the regional Embraer and Canadian RJ jets and the CFM56 engine family on the Airbus 320, Lockheed said.
Lockheed Martin Canada employs more than 700 individuals at facilities in Ottawa, Montreal, Dartmouth and Calgary, as well as Department of National Defence sites nationwide.