5 replies to this topic

[conehead]

http://www.exeltech-...0100204A_EN.pdf

[mrlupin]

That's an unfortunate twist of events. Usually Exeltech took most of the laid off AC employees when the maple leaf carrier had layoffs. With impending layoffs at AVEOS, the market might suddenly get an oversupply of AMEs.

I was wondering how long the airlines could hold out until the layoffs hit...  The biggest recession in decades yet the airline industry is barely hit... it just didn't seem logical.

[Specs]

The company name is familiar.  What did they do?  Are they the ones responsible for the IFE installation work

[mrlupin]

Mostly heavy maintenance work on CRJ,EMB,Dash-8 and ATR.

[conehead]

ExelTech announces the sale of certain assets and the execution of an offer to sell its hangar Written by EXELTECH AEROSPACE INC. Sunday, 02 May 2010 MONTREAL - ExelTech Aerospace Inc. (TSX Venture: XLT) (the "Corporation") announced today that RSM Richter Inc., in its capacity as receiver to the assets of ExelTech Canada Inc., the wholly-owned subsidiary of the Corporation ("ExelTech Canada"), has completed the sale of certain specified equipment, tooling and inventory of ExelTech Canada located in its two Montreal hangars and its Quebec City facility, as well as certain of its office furniture and computer equipment to Pemco World Air Services (Canada) Inc. ("Pemco"). The purchase price for the transaction is $1,200,000, and Pemco has agreed to pay the Receiver an additional $400,000 if certain conditions are met. The proceeds of sale will be used to pay down indebtedness owed to the Corporation's senior lender and certain related transaction costs. The Corporation obtained an approval and vesting order from the Superior Court of Quebec authorizing the transaction with Pemco.

...more about Pemco.... http://www.pemcoair.com/

Edited by conehead, 02 May 2010 - 04:56 AM.

[conehead]

Bombardier Aerospace Announces its Plan to Acquire ExelTech Hangar    Written by Bombardier Inc      Wednesday, 09 June 2010      June 9, 2010 — Montréal

Aerospace

Bombardier announced today the acceptance of its offer to purchase the Saint-Laurent facilities of ExelTech Aerospace Inc. following the latter’s bankruptcy. The acquisition will increase Bombardier’s Global Completion Centre (GCC) capabilities for its Global 5000 and Global Express XRS business jets. The world-class GCC is a fully integrated completion facility with the capability to define, engineer, fabricate, certify and deliver customized interior installations. Bombardier’s GCC is known for its superior quality and workmanship, as well as for its customer-centric focus.

Bombardier’s Global business jets are recognized throughout the industry as the ultimate in design and performance. “The acquisition of the ExelTech facility positions us to better serve our customers with the highest quality completions for our flagship Global business aircraft,” said Steve Ridolfi, President, Bombardier Business Aircraft.

  Bombardier forecasts that the 115,000 sq.-ft. (10,684 sq.-m.) facility will be operational by the fall of 2010.

The acquisition of this facility from RSM Richter Inc., in its capacity of receiver of ExelTech Aerospace Inc., is subject to closing conditions including obtaining the approval of the Superior Court of Quebec, as is customary for this type of transaction.