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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Carlyle Group Inc.    CG

THE CARLYLE GROUP INC.

(CG)
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Carlyle : StandardAeros Summerside, PEI, Canada MRO Facility Inducted over 1,000 Engines for Overhaul During 2019, Setting New Record

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01/16/2020 | 03:36am EST

SCOTTSDALE, Ariz -- StandardAeros engine overhaul facility in Summerside, PEI, Canada finished 2019 on a high, inducting over 1,000 Pratt & Whitney PW100, PT6A and JT15D engines during the course of the year. This record figure was achieved following the recent expansion to the facility, StandardAeros commercial turboprop engine MRO Center of Excellence, which saw the site expand its shop floor area to over 226,000 sq. ft of leased space. The facility, located at the Summerside airport in Slemon Park, also grew its workforce to approximately 500 employees as a result of the recent expansion.

The 1,000th engine to be inducted was a PW121 for long-standing regional airline customer Air Creebec, in support of the airlines fleet of de Havilland Canada Dash 8 turboprop aircraft. Air Creebec is based in Val-d'Or, Quebec, and operates regularly scheduled flights, charter and freight services to 16 destinations in Quebec and Ontario.

Commenting on the milestone achievement, Jeff Poirier, VP/GM of the Summerside facility, said: This record total of 1,000 engine inductions during 2019 is a testament to the dedication and customer focus of our Summerside team, which has stepped up to meet every challenge asked of it this year. The team has justified the recent additional investment made by StandardAero into the site, and continues to provide unrivaled customer service to our customers.

Poirier continued: It is especially fitting that the 1,000th engine to be inducted was for Air Creebec, as a tribute to Paul Hagen, our Regional Sales Manager for Eastern Canada, who sadly passed away last month. Paul was a good friend to many of us, colleagues and customers alike, and a sterling employee, and we send our sincerest condolences to his family at this time.

StandardAero supports the global PW100 operator community as a Pratt & Whitney Canada Designated Overhaul Facility (DOF) from locations in Summerside, PE, Canada, Gonesse, France and the PW150A operator community from Seletar, Singapore, supported by seven service center locations across the Americas, Europe, Africa and Asia. StandardAero is also a PT6A DOF with distribution rights on certain engine models, supporting customers from four DOFs located in North America, Europe, Africa and Australasia, backed up by a global network of seven service centers and over twenty dedicated mobile repair technicians. StandardAeros Summerside location is also a DOF for the JT15D business jet engine, which is supported by four service center locations worldwide.

With more than 25 years of reliable turboprop experience, StandardAero provides operators with a nose-to-tail suite of services, including repair capabilities, engine exchanges, rentals and Engine Condition Trend Monitoring (ECTM) analysis.

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StandardAero is one of the world's largest independent providers of services including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components and energy markets. StandardAero is owned by The Carlyle Group (NASDAQ: CG), a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyles purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest.

For more information, go to www.standardaero.com

.

(C) 2020 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2020 2 427 M
EBIT 2020 994 M
Net income 2020 248 M
Debt 2020 127 M
Yield 2020 3,59%
P/E ratio 2020 14,6x
P/E ratio 2021 12,4x
EV / Sales2020 4,61x
EV / Sales2021 3,79x
Capitalization 11 056 M
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Number of Analysts 15
Average target price 34,13  $
Last Close Price 31,75  $
Spread / Highest target 26,0%
Spread / Average Target 7,51%
Spread / Lowest Target -15,0%
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NameTitle
Glenn A. Youngkin President, Co-Chief Executive Officer & Director
Kewsong Lee Co-Chief Executive Officer & Director
William E. Conway Executive Co-Chairman
David M. Rubenstein Executive Co-Chairman
Curtis L. Buser Chief Financial Officer
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