Through specialized tooling, equipment, technical documentation and training provided by Derco, Aerostar will be equipped with the knowledge and skillset to successfully repair F-16 components.
“We’re proud to be the latest Lockheed Martin business to partner with Romania through this new agreement with Aerostar,” said Derco’s President and General Manager Todd Morar. “Derco’s technology solution that we are sharing with Aerostar will ensure the readiness, effectiveness and safety of Romanian military personnel operating F-16 fighter jets.”
“Aerostar will provide maintenance and repair activities required for new aircraft fleets in Romania and the region. We want to strengthen Romania’s position in this market and rely on our technical capabilities and knowledge,” said Grigore Filip, president and CEO of Aerostar.
The agreement comes days after the first European F-16 Training Center was recently inaugurated at the Fetesti Air Base (in southern Romania) and builds on Lockheed Martin’s 26 years of cooperation with Romania in support of its national defence, industry and academia.
As a global technology leader, Lockheed Martin is committed to supporting the Ministry of Economy’s work to strengthen the capabilities of Romania’s aerospace and defence industry and to investing in long-term partnerships that support the creation of high-skilled jobs and technology transfer.
Aerostar has a market value of RON1.25 billion and is 71.5%-owned by Iarom SA, while Evergent Investments holds a 15.2% stake. ARS shares have gained 13% so far in 2023, amid deals worth RON3.9 million, as per stock market data.