Received by email:
File: 1404SADI.pdf
NEWS RELEASE
Avcorp announces Strategic Aerospace and Defence Initiative
Funding Agreement with the Government of Canada
Avcorp Industries Inc.
April 23, 2014
10025 River Way
Delta, British Columbia
Canada V4G 1M7
(604) 5821137 VANCOUVER: Avcorp Industries Inc. (TSX: AVP) (the "Company" or "Avcorp") today
--->announced
(604) 5822620 Fax that it has received a Strategic Aerospace and Defence Initiative (SADI) Contrib
--->ution Agreement
info@avcorp.com
from the Government of Canada for up to $4.4 million to support development of
---> advanced
www.avcorp.com
metal bond manufacturing processes and capabilities. In particular, this SADI su
--->pported project
will assist Avcorp to undertake specific capability development for large, comple
--->x metal bonded
structural components, for our customers, including The Boeing Company and Cascad
--->e
Aerospace. This project will also support implementation of Lean Manufacturing
--->process
improvements and advancements along our Metal Bond Technology Roadmap. This fun
--->ding
Common Stock Listed support from the Government of Canada will be instrumental in enabling Avcorp t
--->o achieve
Toronto these capability and competitiveness enhancements in a timeframe that meets both
---> our
Trading Symbol: AVP customers' requirements and the demands of the market. "I would like to express my gratitu
--->de
for the confidence shown in Avcorp by the Government of Canada and by our Cus
--->tomers." said
CEO Mark van Rooij.
About Avcorp
Avcorp designs and builds major airframe structures for some of the world's lea
--->ding aircraft
companies, including BAE Systems, Boeing, and Bombardier. With more than 50 year
--->s 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 lowercost, light weight, strong, reliable structures. Our Comtek subsidiar
--->y also offers
composite repairs for commercial aircraft out of their Burlington location. Avcor
--->p is a Canadian
public company traded on the Toronto Stock Exchange (TSX:AVP).
MARK VAN ROOIJ
PRESIDENT and CHIEF EXECUTIVE OFFICER
Contact: Sandi DiPrimo, Investor Relations Contact 6045874938 or email info@avcorp.com
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NEWS RELEASE
Avcorp announces Strategic Aerospace and Defence Initiative Funding Agreement with the
---> Government of Canada April 23, 2014
ForwardLooking Statements
This release should be read in conjunction with the Company's unaudited fin
--->ancial 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 C
--->ompany from time
to time are forwardlooking statements, including those that discuss strategie
--->s, goals, outlook or other
For further information nonhistorical matters; or projected revenues, income, returns or other financ
--->ial measures. These
about Avcorp Industries Inc. forwardlooking statements are subject to risks and uncertainties that may ca
--->use actual results to differ
please visit our website. 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) uncert
--->ainty in estimating the amount
www.avcorp.com
and timing of restructuring charges and related costs; (c) changes in world
--->wide economic and political
conditions that impact interest and foreign exchange rates; (d) the occurren
--->ce of work stoppages and
strikes at key facilities of the Company or the Company's customers or sup
--->pliers; (e) government funding
and program approvals affecting products being developed or sold under gover
--->nment 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 manufa
--->cturer customers;
(m) the availability and cost of insurance; (n) the Company's ability to maintain port
--->folio credit quality; (o)
the Company's access to debt financing at competitive rates; and (p) uncertainty in es
--->timating contingent
liabilities and establishing reserves tailored to address such contingencies.
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