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
SOURCE: IMP GROUP LTD.
For further information:
President, IMP Aerospace & Defence