Helicopter servicing operations in Langley and Richmond are included in a $625 million deal announced Monday between Vector Aerospace Corporation of Canada and the Eurocopter Holding Division of the German-French EADS aerospace group.
The Vector board of directors has unanimously approved the sale and the companies that control 60 per cent of the shares have promised to sell, a a joint news release said.
A take-over bid circular will be mailed to all Vector Aerospace shareholders shortly, the statement added.
Eurocopter plans to continue operating the Canadian company under the Vector name.
Vector has 2,500 employees in Canada, the United Kingdom, USA and South Africa, including the Langley and Richmond helicopter service operations.
The Langley facility at 5947 206A Street services a number of Bell, Sikorsky and Eurocopter models, while the Richmond plant at 4551 Agar Drive works on a variety of helicopter engines built by Rolls-Royce, Pratt & Whitney, General Electric and Turbomeca Engine Corporation.
A written statement was issued by Declan O’Shea, CEO of Vector Aerospace, saying the sale would allow the Canadian-based company "to pursue our long history of profitable growth and excellent levels of quality and customer service."