CANADA'S FLEET Aerospace has agreed to purchase the aerospace businesses of Hawker Siddeley Canada for $27 million. The businesses, which had 1995 sales of almost $93 million, include Hawker Siddeley's Orenda division, which is developing a new range of high-power piston engines for general-aviation aircraft.
The businesses will be acquired by NewFleet, a new parent company which is to be in place by April. The acquisition, for which NewFleet has yet to raise financing, is expected to be completed in May. The businesses, including A-R Technologies and Middleton Aerospace, will be an affiliate of Fleet.
Orenda management and employees will be retained, says NewFleet. The delayed first flight of the Orenda-series engine is due in March, in a re-engined Raytheon Beech King Air, and certification is planned for the end of 1995.
Source: Flight International
