Northstar Aerospace (Canada), Inc. (NAS:TSX) ("Northstar Canada"), a wholly owned subsidiary of Northstar Aerospace, Inc. (the "Corporation") announced that it has entered into an amendment to a customer agreement and entered into a new customer agreement.
Northstar Canada agreed to amend the Revenue Sharing Agreement with GE Aviation for the CF34-3 program. As previously disclosed in the Corporation's financial statements, Northstar Canada was scheduled to pay the final contingent installment of U.S. $5 million in early 2012. Under the amendment, Northstar Canada will satisfy this obligation through a combination of cash and payment in kind of parts from April through November 2012.
Additionally, Northstar Canada reached a long-term agreement with Sikorsky Aircraft Corporation to provide parts for the UH-60 Blackhawk helicopter. The agreement provides pricing and forecasted quantities for deliveries in 2013 through 2017. There is no obligation for the amount ordered or the timing of deliveries. Based on the forecasted quantities, the estimated value of this agreement is U.S. $9 million over the five year agreement.
Northstar Aerospace, Inc. (www.nsaero.com) is North America's leading independent manufacturer of flight critical gears and transmissions. Northstar Aerospace is a public company (TSX:NAS) with operating subsidiaries in the United States and Canada. Its principal products include helicopter gears and transmissions, accessory gearbox assemblies, rotorcraft drive systems and other machined and fabricated parts. It also provides maintenance, repair and overhaul of components and transmissions. The Company's executive offices are located in Chicago, Illinois. Its plants are located in Chicago, Illinois; Phoenix, Arizona; Milton and Windsor, Ontario, Canada.
- FLIR Systems wins $23M US Coast Guard order
- Sikorsky awarded $11M contract for one UH-60M for Thailand
- Turkey’s Aselsan secures Sikorsky helicopter subcontract
- Colorado National Guard to open new $39M training facility
- Prototype Engineering awarded $10M Black Hawk overhaul work
- 16-Apr-13 Sikorsky CH-53E Chelwon, Korea
- Donaldson delivers engine filters for US Army Black Hawks
- Breeze-Eastern secures $6M order for Advanced Rescue Hoists
- 01-Apr-13 FAC-4105 Sikorsky UH-60L Tabacal, Colombia
- Swedish Black Hawks head for Afghanistan
- 11-Mar-13 Sikorsky UH-60 Daman district, Afghanistan (5F)
- L-3 Aviation Products Selected for Sikorsky H-60 and S-70i
- 15-Mar-13 Sikorsky MH-60R Chula Vista, US-California
- 24-Feb-13 EJC-2154 Sikorsky UH-60L Vistahermosa, Colombia (4F)
- Cold spray system wins environmental technology award
- New research report issued on Sikorsky
- 16-Dec-12 Sikorsky UH-60 Winner, US-South Dakota
- 15-Dec-12 FAC-4130 Sikorsky UH-60L Providencia, Colombia
- Sikorsky awarded $282M H-60 weapon system contract
- 12-Dec-12 Sikorsky MH-60R North Island NAS, US-California