CTS Engines signs long-term test agreement with OEM

CTS Engines, the leading independent engine MRO in the U.S., announced today that it had signed an agreement with a major jet engine original equipment manufacturer ("OEM") to provide test capacity for the development testing of its engines. The $13mm, four-year deal is expected to commence in January 2014 and has options for additional years. Tests will take place at CTS Engines's Bee Line Highway test facility, located in Jupiter, Florida, which is expected to be opened in mid-2013. The new contract is expected to bring approximately 20 new technical and support jobs to Palm Beach County.

"At 155,000 lbsf, CTS's first test stand, once completed, will be the highest thrust rated commercial test stand in the world," said Jim McMillen, CTS's Chairman. "With this facility, CTS will be able to test the largest commercial engines currently in production, as well as those developed in the future with even higher thrust ratings. We are pleased that this agreement solidifies our close working relationship with the OEM community, which has grown steadily over the past two years."

CTS Engines is the world's leading independent mature engine MRO. The company provides maintenance, repair, overhaul, and testing services to owners and operators of early stage commercial jet engines worldwide. Globally, the company offers outstanding field service support on nearly every major engine platform in operation. Since 2002, CTS Engines has built its reputation on the ability to provide its customers with a better solution for engine maintenance. Please see www.ctsengines.com for more information.