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Microcap & Penny Stocks : CHC Helicopter (FLYAF) Wins HUGE contracts- solid buy...
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To: Frank Perlmutter who wrote ()7/31/1998 1:48:00 PM
From: keetmon  Read Replies (1) of 71
 
$9.5m deal with Government of Newfoundland and Labrador

CHC Helicopter Corp FLY.A
Shares issued 8,386,132 Jul 24 close $9.75
Mon 27 Jul 98 News Release
Mr. Craig Dobbin reports
CHC Helicopter has signed an agreement with the Government of Newfoundland
and Labrador whereby the government will contribute $9.5-million to
establish a new high-technology company in Newfoundland, to manufacture
composite aerospace components. The newly created company, Newfoundland
Bonding and Composites (NBCL), a subsidiary of CHC, will construct a
state-of-the-art 60,000 square foot facility at the airport in Gander. The
company has secured a $13-million contract with Westland/Augusta to
manufacture components for the Cormorant helicopters being constructed for
the Department of National Defense. Westland/Augusta has indicated that it
will actively support this new project by providing appropriate technology
transfer and training as well as directing work to the plant over the next
several years.
The government's investment will be in the form of preferred shares
redeemable by NBCL at a nominal amount based on the achievement of
predetermined job creation targets.
NBCL will start out manufacturing components such as floor panels and
airframe panels and will be aggressively pursuing expansion in this growing
market.
CHC will draw on its proven track record in the aviation industry and
capitalize on its purchasing leverage to help ensure growth and success for
NBCL.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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