IMP Group to acquire Cascade Aerospace Inc.
HALIFAX, Nov. 8, 2012 /CNW/ - IMP Group Limited (IMP) today announced that it has signed a definitive agreement to acquire all of the issued and outstanding shares of Cascade Aerospace Inc. (Cascade). Cascade, which employs in excess of 650 employees in its headquarters in Abbotsford, British Columbia, is a very successful aerospace and defence contractor providing fleet management, in-service support, aircraft modification, engineering support and maintenance, repair and overhaul services to Canada's Department of National Defence, major original equipment manufacturers, and commercial aviation companies.
The combination of Cascade with IMP Group's Aerospace & Defence business unit headquartered in Nova Scotia will complement IMP's capability in the aerospace and defence sectors. IMP believes that the acquisition also aligns with the Government of Canada's objective of encouraging the development of a world-class Canadian aerospace in-service support capability that can compete in export markets. The transaction will close upon receipt of regulatory approvals.
IMP Group is focused on global sustainable growth, with over 3,700 experienced people delivering service, quality and value to customers across diverse sectors, such as aerospace, aviation, airline, healthcare, information technology, hospitality, and property development.
SOURCE: IMP GROUP LTD.For further information:
President, IMP Aerospace & Defence