EADS could buy Vector
Published 12:00 am Saturday, March 26, 2011
The European aerospace group EADS announced this week it is in exclusive talks to buy aircraft overhaul firm Vector Aerospace.
Vector employs more than 100 people at its Andalusia maintenance plant. The Toronto-based firm also has business offices in Huntsville and Ft. Rucker.
EADS lost a bid for the U.S. Air Force tanker contract to rival Boeing last month. EADS said after the loss that it would look to expand through acquisitions, with a goal of reaching $10 billion in annual U.S. sales by 2020.
Vector recently announced a $3 million expansion of its helicopter maintenance and repair plant in Covington County.
The project, which includes construction of a 42,000-square-foot building at the South Alabama Regional Airport, is on track for completion later this year and will add 100 jobs.