Aviation Sales has sold its Caribe Aviation component repair operation to Hamilton Sundstrand Services in a deal worth $34 million, as it continues efforts to reduce debt.
Hamilton Sundstrand paid $22.5 million for Caribe's assets, assumed liabilities totalling $3 million, and bought its Miramar, Florida, facility for $8.5 million.
Aviation Sales has used $13.5 million of the proceeds to repay debt and the balance of working capital. The company is focusing on commercial aircraft heavy maintenance.
Source: Flight International
