Great news out today!! The Canadian government is contributing $1.6mm to help CASG set up production.
Canadian Aerospace Group International Inc., and
Canadian Government Announce ''The Sky's the Limit'' in Quebec
ST. HUBERT, QC, June 1 /CNW-PRN/ - Looking to capitalize on the exceptional track record of Aerospace growth in the province of Quebec, Canadian Aerospace Group International Inc., (CASG - OTCBB), participated this morning in a press conference held by the Honourable Minister Martin Cauchon, Secretary of State responsible for Canada Economic Development, to announce a major Government of Canada financial contribution for the establishment of manufacturing facilities for Windeagle Aircraft Corporation at the Airport of St Hubert, Quebec, located on the south shore of the City of Montreal.
As the first of several millions of dollars of Canadian Government support for Windeagle Aircraft Corporation, Minister Cauchon announced to an audience of almost 200 media representatives, officials, aviation companies and other interested parties who were on hand to witness the formal establishment of Windeagle Aircraft Corporation in Quebec, that his department will contribute $1.625 million to the new manufacturing facility at St. Hubert Airport.
''The arrival of this major prime producer - The Windeagle Aircraft Corporation - at the Technobase (St. Hubert) will result in a critical
mass to revitalize part of the former military base and create a technology centre in the field of aeronautics'' stated Minister Cauchon.
Windeagle Aircraft Corporation will occupy a new multi-million dollar state of the art 50,000 square foot manufacturing facility at St.
Hubert Airport, which is scheduled for completion by December this year. Windeagle will temporarily occupy a 24,000 square foot former military hanger on the base, where millions of dollars worth of Windeagle tooling and equipment are to be prepared for the immediate start of product manufacturing. The hiring process has begun for the technicians and aircraft assembly workers who will staff the new facility in September. More than 200 jobs will be created over the next three years related directly to this general aviation aircraft product.
The Windeagle general aviation aircraft is a proven FAA certified low wing single engine retractable 4 seat aircraft. It will appeal
primarily to business people and flying schools throughout North America and Europe. It also has many applications for military liaison duties and has met with considerable interest in all of these markets. To date, 41 firm orders have been achieved including 15 for the new turbo prop version of the aircraft representing more than US $23 million in orders.
Windeagle Aircraft Corporation is a wholly owned subsidiary of the Canadian Aerospace Group International Inc. CASG has announced orders for its product-lines totaling in excess of US $50 million this year, far exceeding estimated projections.
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