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In this 2008 file photo, Ashley Cuchens, left, and Jeremy Crutcher with Vector Aerospace, a helicopter maintenance, repair and overhaul facility, repair a helicopter's engine at South Alabama Regional Airport, near Andalusia, Alabama. EADS has finalized a deal to acquire Vector Aerospace, including its Andalusia and Huntsville facilities in Alabama. (Press-Register File Photo)


Louis Gallois, CEO of EADS, stated: “This acquisition perfectly fits EADS’ Vision 2020 strategy, increasing servic- es, strengthening the helicopter business, international and more specifically North American exposure while keep- ing a good balance between mil- itary and civil activities. It is also an excellent investment oppor- tunity for Eurocopter, as Vector Aerospace has proven resilient and profitable growth. EADS sees in this acquisition a poten- tial for synergies and value cre- ation for our shareholders.” The acquisition of Vector Aerospace is a major step towards expanding Eurocopter’s

Support and Services footprint into new areas, such as the maintenance of engines and non-Eurocopter products. According to Lutz Bertling, CEO of Eurocopter Holding, “This opportunity will provide the Eurocopter group with a high-level of expertise, especially in public-private partnerships for the maintenance on govern- mental aircraft. The comple- mentary nature of our world- wide network of subsidiaries and Vector Aerospace’s own network will enable us to develop our activities jointly, both faster and more efficiently. Vector Aerospace will be managed as an independent multi-customer platform MRO.”

11 Declan O’Shea, CEO of

Vector Aerospace, stated: “We are delighted to join EADS and Eurocopter. We believe that being part of the Eurocopter group will allow Vector Aerospace and our people to pursue our long history of prof- itable growth and excellent levels of quality and customer service. Vector Aerospace’s business will be complementary to

Eurocopter’s services activities, in serving multi-customer plat- forms.”

Completion of the Offer is subject to usual and customary conditions including, but not limited to, a minimum of

66⅔% of the Common Shares of Vector Aerospace being ten-

dered to the Offer, as well as the obtaining of regulatory approvals. A take-over bid cir- cular in connection with the Offer will be mailed to Vector Aerospace shareholders shortly. Under the Support

Agreement, Vector Aerospace has agreed that it will not solicit or initiate any discussions con- cerning the pursuit of any other acquisition proposals. Vector Aerospace has also agreed to pay a termination fee of C$12.5 million to Eurocopter in certain circumstances. In addition, Eurocopter has the right to match any competing superior proposal for Vector Aerospace in the event any such proposal is made. ◆


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