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July 19, 2013

Briefcase

BANGOR

Aerospace company plans aircraft hangar expansion

An aerospace firm based in Bangor said Thursday that it has secured $5 million in financing for a facility expansion that will generate 50 to 70 new jobs.

C&L Aerospace, which provides parts, maintenance and repairs to regional airlines, said its plans include a $1.8 million upgrade to an existing 17,000-square-foot hangar to convert it into an aircraft-painting facility.

The company also plans to spend $3 million on upgrades to its facility and maintenance hangars.

"The expansion will help create a one-stop service center for regional aircraft owners across the globe," said CEO Chris Kilgour. "We'll be able to perform heavy maintenance and paint an aircraft up to the size of an Embraer 190 at one location."

The Embraer 190, popular among regional airlines, is 118 feet long, has a wing span of about 94 feet and can seat 110 passengers.

Kilgour said his company will phase in 50 to 70 full-time jobs through a steady expansion over the next two to three years.

C&L Aerospace received assistance from Bangor economic development officials in its effort to secure funding for the expansion, company officials said. In addition to its Bangor location, C&L Aerospace has offices in Australia and Europe.

PORTLAND

BlueTarp raises $15 million for adding to customer base

BlueTarp Financial, which provides credit and marketing services for the building supply industry, said Thursday that it has raised $15 million that will enable it to expand its customer base and add employees.

The $15 million came from 13 new and existing investors, who gained an undisclosed equity stake in the company, BlueTarp said. One major new investor is LongRidge, based in New York.

BlueTarp's customer base includes more than 2,000 building supply companies. The company employs more than 80 people, up from 50 workers last year.

The equity investment was brokered by San Francisco-based FTP Securities LLC.

-- From staff reports





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