Update on the Acquistion of Hitco Carbon Composites Inc.
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DELTA, BC - Further to our news release dated July 19, 2015, Avcorp Industries Inc. (the "Company") (AVP:TSX) is pleased to announce that it has received all regulatory approvals related to the transaction for the acquisition of the US-based composite aerostructures division of Hitco Carbon Composites Inc., a subsidiary of Frankfurt-listed SGL Carbon SE.
Closing conditions, as set out in the definitive agreement for the acquisition, are in the process of being satisfied as the Company works towards completion of the acquisition.
About Avcorp
The Avcorp Group 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 385 skilled employees and 340,000 square feet of facilities at our Avcorp location in Delta BC which is dedicated to light weight metal manufacturing and assembly and at our Comtek location in Burlington ON which is dedicated to composites manufacturing and repair, the Avcorp Group 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 Industries Inc. is a Canadian public company traded on the Toronto Stock Exchange (TSX:AVP).
PETER GEORGE
CHIEF EXECUTIVE OFFICER, AVCORP GROUP
SOURCE Avcorp Industries Inc.
CONTACT: Sandi DiPrimo, Investor Relations Contact, 604-587-4938 or email info@avcorp.com
Web Site: http://www.avcorp.com Â
