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.
- Simplex awarded FAA certification for Internal Fire Attack System
- 1st CAB Commander Makes Final Flight
- CPI Aero Secures Additional Orders From Sikorsky
- Rockwell Collins Awarded $49M Contract for UH-60 Display Unit Overhaul
- AAI Corp. Awarded $20M Contract for JSECST for CV-22, UH-47 and UH-60
- Sikorsky Awarded $23M Contract for UH-60 Overhaul
- Coulson and Unical Join Forces to form Coulson Unical
- US Army selects GE’s T901 engine
- Triumph Awarded DLA Contract Extension
- Polish Police recieve two S70i Black Hawks
- Fort McCoy celebrates 40 years of the Black Hawk
- CPI Aero wins UH-60 Hover Infrared Suppression System order
- Sikorsky Awarded $29M Contract for UH-60 Support
- Sikorsky Awarded $61M Contract for UH-60 Repairs
- General Electric awarded $18M contract for UH-60 pipe exhausts
- US State Department to possibly sell UH-60 Black Hawks to Latvia
- Meggitt awarded five year fuel cell contract
- First Afghan UH-60 pilots graduate
- Honeywell Certified To Bring Wi-Fi To Helicopters
- Parker Hannifin awarded $96M contract for UH-60 Upgrades