Avcorp Announces Bombardier Contract Extensions
OCTOBER 1, 1999
VANCOUVER, BRITISH COLUMBIA--Avcorp Industries Inc. (AVP on the
Toronto Stock Exchange) is pleased to announce the award of a
contract extension with Bombardier Aerospace for the fabrication,
assembly and supply of horizontal stabilizers for the CRJ100/200
Series regional airliners. The extension has generated orders for
a value of CDN$15 million, and could potentially generate
additional orders for CDN$45 million over the term of the
contract. In service since November 1992, the 50-seat Canadair
Regional Jet(r) aircraft has been setting the standard for
jetliner travel in North American and European medium-range
markets, and is now in service or on order with 31 airlines and
corporate customers worldwide.
"We are firm believers that Canadian companies have the
capability, experience and competitive background necessary to
supply primary flight structures to the world's prominent aircraft
manufacturers. Bombardier's continuation of the CRJ stabilizers
contract with us is confirmation of that belief and we are pleased
to continue our long-standing relationship with them", said Mr.
Ron Palfery, Senior Vice-President, Aerostructures Division in Delta, BC.
With this contract extension, Avcorp's order backlog is CDN$285
million at FY99 year-end.
Avcorp Industries Inc. is a Canadian aerospace industry
manufacturer. The Company is a single-source supplier for design,
fabrication and assembly of metal, composite and acrylic
components and is structured with five divisions: Aerostructures,
Composites, Metal Products, Engineering and Proprietary Products. |
