ACTS, GE and CFM Sign Long Term Material and Repair Agreements

Released on Wednesday, January 09, 2008

MONTREAL (QUEBEC), CANADA; EVENDALE (OHIO), U.S.A. -- January 9, 2008 -- ACTS today announced the signing of a 10 year OnPointSM solutions agreement with GE for material to repair CF34 engines, and a landmark 10 year materials agreement with CFM International (CFM) for the repair and overhaul of the CFM56-2, CFM56-3, CFM56-5A, CFM56-5B and CFM56-5C engines. Worth an estimated US$2.5 billion, both agreements cover all life limited and non-life limited parts, as well as component repair and used materials for the GE and CFM engines that ACTS repairs.

"ACTS has been servicing GE and CFM engines for over 20 years. These agreements give ACTS enhanced access to OEM-produced parts and services at industry-competitive pricing, and support efforts to produce industry-leading turnaround times." said Chahram Bolouri, president and CEO of ACTS. "This is one more way ACTS is improving its total offering to customers."

"This material agreement will enable ACTS to offer high-quality OEM parts and repairs to its CF34 MRO customers," said Brad Mottier, vice president and general manager of Services for GE Aviation. "We are very excited to work with ACTS and look forward to growing this relationship."

GE's OnPoint solutions are flexible, long-term commitments designed to meet customers' unique engine services needs. Backed by GE's world-class support, these solutions help lower customer cost-of-ownership and maximize the use of their assets. Available OnPoint services include overhaul, on-wing support, new and used serviceable parts, component repair, technology upgrades, engine leasing and diagnostics.

"We are delighted that an MRO organization of the stature of ACTS has chosen to bring the benefits of genuine CFM parts to its operations and to its customers," said Eric Bachelet, president and CEO of CFM. "This is the largest materials agreement we have signed to date and we look forward to forging a strong bond and a great working relationship with ACTS over the next decade and beyond."