FTAI Aviation Agrees to Purchase Lockheed Martin Commercial Engines Solutions
FTAI Aviation Ltd. (FTAI)
Last ftai aviation ltd. earnings: 4/30 04:15 pm
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Source: GlobeNewswire
NEW YORK and MONTRÉAL, May 30, 2024 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) announces entry into an agreement to purchase Lockheed Martin Commercial Engine Solutions (“LMCES”) from Lockheed Martin Canada for a purchase price of $170 million. The acquisition is subject to customary regulatory approvals and is anticipated to close in the second half of 2024. LMCES is a 526,000-square-foot aircraft engine maintenance repair facility located in Montréal, Quebec, with extensive engine and piece-part repair capabilities for CFM56 engines. FTAI, LMCES’s largest customer, and LMCES established The Module Factory™ at the facility in 2020 to distribute CFM56 modules globally. The facility has a capacity for up to 900 CFM56 modules per year and houses three test cells on-site. This acquisition will further enhance FTAI’s Maintenance, Repair, and Exchange (MRE) business, and create permanent engine and module manufacturing capabilities in Canada. FTAI will continue to expand its
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FTAI
Earnings
- 4/25/24 - Miss
FTAI
Sec Filings
- 6/17/24 - Form 8-K
- 6/3/24 - Form 4
- 6/3/24 - Form 4
- FTAI's page on the SEC website