BURLINGTON, ON, April 14, 2014 /PRNewswire/ - Comtek Advanced Structures Ltd. ("Comtek"), a wholly-owned subsidiary of Avcorp Industries Inc., is pleased to announce its 20th anniversary of service to the regional airline industry.
Originally founded as an aircraft design consulting firm with structural repairs capabilities in 1994, Comtek has since evolved into a leading supplier of Original Equipment Manufacturer (OEM) and aftermarket flooring systems and has become an established Approved Maintenance Organization (AMO) for the repair of primary and secondary structures. Comtek currently supplies floor panels to Bombardier Aerospace for the CRJ700*, CRJ900*, CRJ1000*, Q400* and Learjet* 85* aircraft and also provides aftermarket supply of a range of Part Design Approval (PDA) parts including radomes, leading edges and upgraded floor packages.
The company attributes success to its core philosophy of innovation paired with the drive to produce the highest performing products for its customers. Comtek is currently investing in operational efficiency programs to reduce overall costs and subsequently improve customer competitiveness. Moving forward, the company has embarked on a continual investment in new technologies and capital resources along with an ongoing effort to build and strengthen personnel.
Earlier this year, Comtek announced it had been awarded a contract to design and manufacture the floor panels on Bombardier Aerospace's Global* 7000* and Global* 8000* aircraft. Comtek was established on April 14, 1994.
* Trademarks of Bombardier Inc. or its subsidiaries.
About Comtek
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 regional aircraft including CRJs, Dash 8s, ATR, Dornier, Saab, Embraer and Learjets, among others. Located in Burlington, Ontario with distributors worldwide, Comtek is a preferred manufacturer for composite design and repair.
Contact: Andrew Erskine, Marketing Manager, 905-331-8121 or email aerskine@comtekadvanced.com
About Avcorp
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).
(signed)
BRENT COLLVER
PRESIDENT
COMTEK ADVANCED STRUCTURES LTD.
(signed)
MARK VAN ROOIJ
PRESIDENT and CHIEF EXECUTIVE OFFICER
AVCORP INDUSTRIES INC.
Contact: Sandi DiPrimo, Investor Relations Contact 604-587-4938
Forward-Looking Statements
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.
SOURCE Avcorp Industries Inc.
