EADS group buys Vector

Published 12:21 am Tuesday, March 29, 2011

Eurocopter Holding will acquire Vector Aerospace in a $625 million (Canadian) deal, the companies announced Monday morning.

Eurocopter is a subsidiary of EADS, a global leader in aerospace and defense services.

Vector, an aircraft overhaul company with businesses in Canada, the United Kingdom and the United States, employs more than 100 people at its Andalusia maintenance plant, where a $3 million expansion is under way.

Vector Aerospace will maintain and develop its brand name.

“We are delighted to join EADS and Eurocopter,” Vector CEO Declan O’Shea said. “We believe that being part of the Eurocopter group will allow Vector Aerospace and our people to pursue our long history of profitable growth and excellent levels of quality and customer service.”

Andalusia Mayor Earl Johnson said the deal should be good for Andalusia.
“We stand to have the second largest aeronautics company in the world right here in our county,” he said. “There is tremendous potential for growth.”

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.