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Springer Aerospace Holdings Limited Announces Restructuring

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ECHO BAY, Ontario–()–Springer Aerospace, a full-service aircraft maintenance, repair and overhaul company headquartered in Echo Bay, Ontario, announced that it has initiated a restructuring process pursuant to Law on composition with creditors of companies restructure its operations and financial affairs. The facilities are located at the company’s private airport in Bar River, just 15 km east of Sault Ste. Marie, Northern Ontario.

Springer is a key employer in Northern Ontario with approximately 100 employees. Many of Echo Bay’s 1,600 residents derive income and economic benefits from Springer Aerospace. Springer serves nearly all airlines, private operators and air ambulances carrying passengers, food, fuel and medical supplies to Indigenous communities and in flight.

Springer Aerospace is focused on long-term growth. The company expanded its operations and service offering in 2020 with the construction of a new state-of-the-art hangar.

As part of the restructuring, Springer Aerospace continues to work with its primary lender, Desjardins, and other key stakeholders. Springer Aerospace will undertake an operations review and implement measures to improve workflow and profitability for long-term growth.

“Springer Aerospace is grateful for the continued support of our employees, suppliers and customers and the Echo Bay community,” said Christopher Grant, CEO. “We look forward to building this company to serve the community for years to come, as it has since 1972.”

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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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