StandardAero Breaks Ground on 70,000 sq. ft. Winnipeg Expansion to Boost CF34, CFM56 Engine MRO Capacity

StandardAero Inc. (NYSE:SARO) is one of the best new stocks to invest in. On November 10, StandardAero broke ground on a ~70,000 square foot expansion to one of its facilities in Winnipeg, Manitoba. This investment in the company’s existing Winnipeg campus aims to increase capacity and drive faster turnaround times for MRO services on key commercial and military turbofan engines.

The Winnipeg facility provides full MRO support for the GE Aerospace CF34-3/8 and CFM International CFM56-7B engines, and the expansion will increase the building’s footprint by 40%. The expansion is focused on increasing the site’s capacity for the CF34-3/8 engine, which powers popular regional airliners such as the Embraer E175 and MHIRJ CRJ700.

It will also enable StandardAero to increase its work volume on the CFM56-7B engine, which is utilized by the Boeing 737 NG and its military variants, notably the P-8A Poseidon maritime patrol aircraft. This investment, which supports the facility’s 1,500 highly skilled employees and serves global commercial and military operators, is being undertaken in partnership with government entities, most notably the Manitoba provincial government, which is contributing $3 million toward the project.

StandardAero Inc. (NYSE:SARO) provides aerospace engine aftermarket services for fixed and rotary wing aircraft in the US, Canada, the UK, the Rest of Europe, Asia, and internationally. It operates in two segments: Engine Services and Component Repair Services.

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Disclosure: None. This article is originally published at Insider Monkey.