Miami, Florida, March 15, 2011 - Sargent Aerospace & Defense, a leading supplier of precision engineeredcomponents and aftermarket services, and an operating company within Dover Corporation’s (NYSE: DOV) Industrial Products Segment, announced that their Aftermarket Services group is acquiring more than 1,200 Boeing 737 line-replaceable units (LRUs), valued at approximately $4M.
Sargent Aerospace & Defense’s Miami Aftermarket facility will receive the majority of these components in overhauled condition ready for outright sale, as well as exchange and lease programs. The acquired inventory will range from avionics, fuel pumps, electromechanical actuators, engine components, to landing gear top assembly units. Sargent will utilize the non-overhauled material for inventory, improving their stocking levels for subassemblies and piece part items.
“Over the next 24 months, we plan to continue with this growth strategy to facilitate increased sales opportunities, which will be supported through the overhaul and repair services of our internal shops,” said Kevin Connelly, vice president of aftermarket services, Sargent Aerospace & Defense. “This will ultimately reduce material costs and improve turnaround times for our customers, another example of Sargent’s dedication to best-in-class customer service.”
The imperativeness of increased provisioning and competitive turnaround times is a key metric within the aftermarket segment of the aviation component repair industry. Specifically, increased demands on the third party aftermarket repair industry have motivated companies to employ unique strategies to support the strength, quality and superiority of their repair offerings. Inventory acquisition is a strategic method to support reduced turnaround times, as well as provide value added offerings such as exchange units.
Founded in 1920, Sargent Aerospace & Defense is a premier global supplier of precision-engineered customized components as well as flight-critical aftermarket aviation services. Leveraging 90 years of expertise, Sargent directly contributes to the safe operation of countless commercial and military aircraft and rotorcraft, submarines and land-based vehicles. Sargent’s continuing investment in people, assets, technology and process quality ensures excellence and is integral to the company’s commitment to customers and their end-users. For more information, visit www.sargentaerospace.com.
About Dover Corporation
Dover Corporation is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets. For more information, please visit www.dovercorporation.com.