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October 31, 2007

Aviation co. gets financial boost

An aviation company with plans to add an airplane refurbishing facility at the Sanford airport is getting a financial boost from a Massachusetts investment holding company.

Burlington, Mass.-based Oso has signed a letter of intent with Oxford Aviation to help the company complete its $10 million refurbishing facility at the Sanford Regional Airport, the Portland Press Herald reported. Financial terms of the agreement were not disclosed, according to the paper.

Oxford Aviation, which operates from a facility at the Oxford County Regional Airport in Oxford, originally planned to open its 96,000-square-foot Sanford facility next month, but an unexpected hike in costs delayed the project, and no construction has begun. The company said the new facility would allow it to work on larger planes and would employ 200 people by the end of its second year, the paper reported.

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