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Standard Aero facility to grow

Friday, August 10, 2007

Aug. 10, 2007 (McClatchy-Tribune Regional News delivered by Newstex) --
Standard Aero in Maryville will invest $8 million to expand its turbine engine repair facility and expects to add about 125 new jobs over the next three years, a company official said Thursday.

A groundbreaking ceremony for the expansion -- which also will celebrate the plant's 10th anniversary in Maryville -- will be at 11 a.m. today at the engine repair and maintenance facility at 1020 Ross Drive.

The Maryville plant has about 300 employees.

The expansion is needed to provide space for increased work resulting from Standard Aero's recent approval as a 'Designated Overhaul Facility' for the Pratt & Whitney (NYSE:UTX) PW600 engine, which is used in so-called 'very light jet' aircraft, including the Citation Mustang and Eclipse 500.

'We're also adding on the building to facilitate growing of our auxiliary power unit business, which has been growing substantially,' said Greg Young, general manager of Standard Aero in Maryville.

The Maryville plant repairs and overhauls Honeywell (NYSE:HON) auxiliary power units used on Bombardier CRJ regional jet aircraft and Honeywell units used by the Army.

In addition, the Maryville facility is an authorized maintenance center for a Rolls-Royce engine used on the Embraer 145 series of commercial regional jets.

Standard Aero's Maryville operation has grown steadily in recent years, and prospects for continued growth are strong with the purchase of the company by Dubai Aerospace Enterprise, Young said.

'Our new owners are definitely focused on the aerospace market and have a longer-term vision on that market, which bodes well for us,' Young said. 'It's a real change in vision from being owned by a traditional equity investor.'

Dubai Aerospace last week bought two North American aviation services companies -- Standard Aero Holdings Inc., based in a Winnipeg, Canada, and Landmark Aviation based in Tempe, Ariz. -- from the private investment firm The Carlisle Group for $1.9 billion.

Dubai Aerospace is a global aerospace manufacturing and services conglomerate based in the United Arab Emirates.

Newstex ID: KRTB-0105-18826976

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