Judge gives go ahead for AVEOs sale
Jan. 11, 2013, Montreal - A court has approved the sale of the last large segment of insolvent aircraft maintenance company Aveos Fleet Performance.
January 11, 2013 By The Canadian Press
A Quebec Superior Court judge sanctioned the sale of a part of the engine maintenance, repair and overhaul business to a Lockheed Martin subsidiary.
Kelly Aviation Center, based in San Antonio, Tex., plans to restart operations in Montreal beginning in April and expects to hire about 100 workers by year-end.
The court was told that "up to 200 former Aveos workers ''could ultimately be employed.
The U.S. defence and aerospace company purchased equipment and Aveos' building at the airport for an undisclosed price.
The agreement follows the sale of Aveos' components operations and another part of the company's engine repair business. However, no buyer has been found for the airframe operations which accounted
for most of Aveos' 2,600 employees who lost their jobs when the company closed its doors last year.