Aerostar gets $6.6m contract

Aircraft manufacturer Aerostar Bacau signed a 6.6 million dollar (5.6 million euro) contract to repair aircraft engines, with the contract to be completed by 2007, according to a report published by the company. “This is not a contract that will bring about any changes compared with our previous estimates for the 2006 financial results. Most of this agreement will be carried out throughout the coming year and the beneficiary is a foreign military aviation client,” said Grigore Filip, the chairman of the company”s board of directors and also its chief executive. Aerostar exported about 30% of its turnover over the first three quarters, with its main foreign client being the Indian Defence Ministry. Aerostar began operating in the field of civil aviation two years ago, with this segment contributing some 30% to its total turnover. Company officials estimate that civil aviation will account for 10% more in terms of turnover next year ZF