Letter of Intent Signed With ACTS Aero Technical Support & Services
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(October 24, 2007) -- Aero Inventory plc ("Aero Inventory") is pleased to announce that it has signed a letter of intent with ACTS Aero Technical Support & Services Inc ("ACTS") to enter into a ten year exclusive contract for the provision of a range of consumable and expendable aircraft parts. The contract is expected to generate revenues for Aero Inventory in excess of US$1 billion over an initial ten-year contract period.
ACTS and Aero Inventory will now work to finalise the terms of a contract and the parties anticipate completing the transaction by 15th of November 2007. The contract will also grant exclusive rights to ACTS to market and sell Aero Inventory's aircraft consumable and expendable parts provision and support services in the Americas. The initial contract period is expected to be ten years, with two further five-year extension options.
Source : Aero Inventory plc
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