Airbus Industries is in negotiations to sell its Vector Aerospace division to StandardAero, including the Brisbane engineering facility.
Vector is a global aerospace maintenance, repair and overhaul company, providing support for turbine engines, components, fixed- and rotary-wing aircraft. It generated revenue of US$704.8 million in 2016 and employs approximately 2200 people in 22 locations around the world.
According to Airbus, the sale of Vector is subject to workers' council consultation, customary approvals and regulatory clearances and definitive agreements between Airbus and StandardAero have not yet been signed.
Vector's Brisbane plant is an authorized Pratt & Whitney Canada Designated Overhaul Facility (DOF) for the PT6A family of engines. The facility also offers mobile repair team (MRT) support for a range of other Pratt & Whitney engines including the PT6T, PW100 and the JT15D turbofan.
StandardAero is an international company providing engine and airframe maintenance and engineering services. It has two sites in Australia at Sydney and Richmond, NSW.