Lockheed Martin [LMT] yesterday said has agreed to acquire an engine maintenance, repair and overhaul (MRO) based in Montreal, Canada, expanding its engine MRO capabilities internationally and to new engine lines.
Terms of the deal for Aveos Fleet Performance, Inc., were not disclosed, although Lockheed Martin said it would not be material to its financial results.
Lockheed Martin’s Kelly Aviation Center in San Antonio, Texas, already provides engine MRO services for military and commercial aircraft engines although the primary business line is serving defense customers. The company began pursuing commercial business less than two years ago. The San Antonio facility services eight engine types.
Aveos services two engine types and the majority of its customers are commercial although it also does some defense work. The pending acquisition expands Lockheed Martin’s MRO capabilities to 10 engine types.
The Aveos operations in Montreal will become Kelly Aviation Center Montreal, part of Lockheed Martin Canada.
“The expansion into the commercial engine MRO industry is a natural progression of our strategy to grow our business,” Larry Lawson, executive vice president of Lockheed Martin Aeronautics, which oversees Kelly Aviation. “By leveraging the commercial strengths of our existing Aeronautics team at Kelly Aviation Center in San Antonio, we can build on natural synergies that exist to provide innovative MRO offerings that will benefit our customers.”