BETHESDA (dpa-AFX) - FTAI Aviation Ltd. (FTAI) announced Thursday an
agreement to purchase Lockheed Martin Commercial Engine Solutions or LMCES, from
Lockheed Martin Canada Corp. for a purchase price of $170 million.

The acquisition is subject to customary regulatory approvals and is anticipated
to close in the second half of 2024.

LMCES is a 526,000-square-foot aircraft engine maintenance repair facility
located in Montreal, Quebec, with extensive engine and piece-part repair
capabilities for CFM56 engines.

FTAI, LMCES's largest customer, and LMCES established The Module Factory at the
facility in 2020 to distribute CFM56 modules globally. The facility has a
capacity for up to 900 CFM56 modules per year and houses three test cells
on-site.

This acquisition will further enhance FTAI's Maintenance, Repair, and Exchange
(MRE) business, and create permanent engine and module manufacturing
capabilities in Canada.



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