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SOURCE Avcorp Industries Inc.
BURLINGTON, ON, Jan. 6, 2014 /PRNewswire/ - Comtek Advanced Structures Ltd. ("Comtek"), a wholly-owned subsidiary of Avcorp Industries Inc., is pleased to announce it has been awarded a contract to design and manufacture the floor panels on Bombardier Aerospace's* Global* 7000* and Global 8000* aircraft. Comtek will commence design engineering in early 2014.
"Comtek is pleased to continue its support of Bombardier through the Global 7000 and Global 8000 aircraft programs", states Brent Collver, President of Comtek, "It is Comtek's culture to continuously innovate and deliver the highest performing products to our customers. This culture is at the core of our long-standing relationship with Bombardier and we are excited to expand it further into Bombardier's premier business jet segment".
Comtek currently supplies floor panels to Bombardier Aerospace for the CRJ700*, CRJ900*, CRJ1000*, Q400* and Learjet* 85* aircraft and also provides aftermarket supply to aircraft operators.
Founded in 1994, Comtek Advanced Structures is an advanced composite design, fabrication and repair facility. Specializing in out-of-autoclave processes, Comtek provides innovative composite solutions from conceptual design and analysis through to manufacturing, testing and airworthiness certification. As an Approved Maintenance Organization (AMO) and Design Approval Organization (DAO), Comtek provides proprietary repairs to fix primary and secondary structures with damage beyond SRM limits. Comtek typically services aircraft including CRJ*, Dash 8*, ATR, Dornier, Saab and Embraer, among others. Located in Burlington, Ontario with distributors worldwide, Comtek is a preferred manufacturer for composite design and repair.
For additional information visit www.comtekadvanced.com.
Andrew Erskine, Marketing Manager
Avcorp designs and builds major airframe structures for some of the world's leading aircraft companies, including BAE Systems, Boeing, and Bombardier. With more than 50 years of experience, over 400 skilled employees and 354,000 square feet of facilities in Delta BC and Burlington ON, Avcorp offers integrated composite and metallic aircraft structures to aircraft manufacturers, a distinct advantage in the pursuit of contracts for new aircraft designs, which require lower-cost, light weight, strong, reliable structures. Our Burlington location also offers composite repairs for commercial aircraft. Avcorp is a Canadian public company traded on the Toronto Stock Exchange (TSX:AVP).
* Trademarks of Bombardier Inc. or its subsidiaries.
MARK VAN ROOIJ
PRESIDENT and CHIEF EXECUTIVE OFFICER
AVCORP INDUSTRIES INC.
COMTEK ADVANCED STRUCTURES LTD.
This release should be read in conjunction with the Company's unaudited financial statements contained in the Company's Annual Report and with the quarterly financial statements and accompanying notes filed with Sedar (www.sedar.com).
Certain statements in this release and other oral and written statements made by the Company from time to time are forward-looking statements, including those that discuss strategies, goals, outlook or other non-historical matters; or projected revenues, income, returns or other financial measures. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those contained in the statements, including the following: (a) the extent to which the Company is able to achieve savings from its restructuring plans; (b) uncertainty in estimating the amount and timing of restructuring charges and related costs; (c) changes in worldwide economic and political conditions that impact interest and foreign exchange rates; (d) the occurrence of work stoppages and strikes at key facilities of the Company or the Company's customers or suppliers; (e) government funding and program approvals affecting products being developed or sold under government programs; (f) cost and delivery performance under various program and development contracts; (g) the adequacy of cost estimates for various customer care programs including servicing warranties; (h) the ability to control costs and successful implementation of various cost reduction programs; (i) the timing of certifications of new aircraft products; (j) the occurrence of further downturns in customer markets to which the Company products are sold or supplied or where the Company offers financing; (k) changes in aircraft delivery schedules or cancellation of orders; (l) the Company's ability to offset, through cost reductions, raw material price increases and pricing pressure brought by original equipment manufacturer customers; (m) the availability and cost of insurance; (n) the Company's ability to maintain portfolio credit quality; (o) the Company's access to debt financing at competitive rates; and (p) uncertainty in estimating contingent liabilities and establishing reserves tailored to address such contingencies.
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