AVIA SOLUTIONS GROUP, AB - FL Technics AB has completed acquisition of Storm Aviation Limited (UK)

On the 30th of September 2011 FL Technics AB, the subsidiary of Avia Solutions Group AB, has completed acquisition of Storm Aviation Limited (UK). Total purchase price for the shares amounted to GBP 1.32 million and additional GBP 0.35 million will be payable subject to the achievement of performance targets within a period of four years. In addition GBP 0.94 million has been paid as a loan to refinance existing loan stock.

This acquisition creates one of the largest networks of independent line stations across EU and CIS countries, and expands FL Technics aircraft capabilities into A330, A340, A380, B747, B767, B777 and other types of aircraft. It also delivers FL Technics access to new markets and customers with long-standing relations with Storm Aviation.


Source of information: Warsaw Stock Exchange


Aurimas Sanikovas
CFO