adplus-dvertising
Connect with us

Investment

KF Aerospace expecting more job growth through Canadian investment

Published

11 months ago

 on

An Okanagan company will see some returns from Canada’s $10 billion investment in its multi-mission aircraft project.

Canada announced last week that it selected the Boeing P-8A as Canada’s new Multi-Mission Aircraft and joined eight defence partners, including the United States, United Kingdom, Australia and New Zealand in doing so.

It plans to acquire 16 of these aircraft with the earliest delivery expected in 2026.

At that time, KF Aerospace of Kelowna will support the P-8A by providing ongoing maintenance support from its facilities in Canada once the aircraft is operational with the Royal Canadian Air Force.

It will mark further growth in a relationship that’s already benefitted the region.

“KF Aerospace’s growing relationship with the Boeing Company has led to more high-quality jobs at our company and increased economic benefits around our operations in British Columbia and Ontario,” said Tracy Medve, president and CEO of KF Aerospace.

“This partnership empowers us to increase the skills of our workforce while continuing to establish our company as a leading Canadian aerospace firm and extend our global reach.”

The exact structure of the work KF Aerospace will complete is yet to be determined, according to the company. However, officials anticipate increased hiring of skilled trades positions to accommodate the program.

The P-8A is based on a Boeing 737-800NG airframe, a civilian aircraft that KF Aerospace has extensive experience within their commercial maintenance, repair and overhaul (MRO) business.

“We have been working with Boeing products for over 30 years and are ready to apply our experience and expertise to support this platform for our military,” Medve said in an email sent out earlier this week.

The company’s view of the deal is that Canada made the right decision to acquire a proven aircraft, interoperable with their Five Eyes and NATO Allies, and with a low-risk path to upgrade this capability for the RCAF. Canada’s pragmatic decision will help deliver this capability to the RCAF in the fastest possible timeline

The P-8 program for Canada will generate and support nearly 3,000 jobs and add $358 million to Canada’s economy, every year for the next 10 years.

 

728x90x4

Source link

Related Topics:
Continue Reading

Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

Published

3 days ago

 on

October 16, 2024

By

 

TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX up more than 200 points, U.S. markets also higher

Published

1 week ago

 on

October 11, 2024

By

 

TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

Published

1 week ago

 on

October 10, 2024

By

 

TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending