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CHC expands Repair & Overhaul Business
ST. JOHN'S, NL, Sept. 23 /PRNewswire/ -- CHC Helicopter Corporation ("CHC")
(TSX: FLY.A and FLY.B; NYSE: FLI) announced today the strategic expansion of
its Global Support Division and Repair and Overhaul ("R&O") business through
the following:
1. CHC has entered into an agreement to acquire a majority stake in Aero
Turbine Support Ltd. ("ATSL"), based in Langley, B.C.
2. CHC is creating a new dynamic component R&O Centre as part of its new
Global Support Division in Richmond, B.C.
ATSL is an independent, customer service-focused aircraft engine repair &
overhaul ("R&O") company servicing General Electric CT58/T58 ("GE") and Pratt &
Whitney Canada PT6T ("P&W") turboshaft engines. These engines operate in
Sikorsky S-61 and Bell 212/412 aircraft, respectively, as well as in other
aircraft. CHC operates approximately 100 of these engines in its worldwide
fleet, with an estimated annual R&O value of CDN $9 million. CHC will begin
performing this work in-house, and further expand the service to third-party
customers, including civilian and military helicopter operators around the
world. There will be no contract break costs incurred in repatriating the
engine work from CHC's existing external supplier.
Additionally, CHC will take delivery, in the third quarter, of related tooling
and testing equipment in order to provide R&O services for dynamic components
in its Sikorsky S-76 and S-61 aircraft, and further provide this service to
third-party customers. CHC is pleased to announce the appointment of Mike Druet
as Vice-President, Business Development and Marketing for the new Global
Support Group, and Jim Campbell as Vice-President, Workshops (Americas). Both
individuals have extensive experience in the helicopter support industry.
CHC Chairman and Chief Executive Officer Craig Dobbin said: "CHC is investing
in the expansion of the Company. The acquisition and expansion are part of an
ongoing strategy to increase our in-house capabilities to better serve our
existing customers, and to expand our R&O business to new third-party
customers. Our mission is to provide customers with the highest standards of
safety and service in the industry, a mission that has been shared by ATSL."
CHC Helicopter Corporation is the world's largest provider of helicopter
services to the global offshore oil and gas industry, with aircraft operating
in 30 countries and a team of approximately 3,400 professionals worldwide.
Aero Turbine Support Ltd. is an independent Canadian company providing
comprehensive worldwide CT58/T58 and PT6T gas turbine maintenance support
service.
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This press release may contain projections and other forward-looking
statements within the meaning of the "safe harbour" provision of the
United States Private Securities Litigation Reform Act of 1995. While
these projections and other statements represent our best current
judgement, they are subject to risks and uncertainties that could cause
actual results to vary. These statements may involve risks and
uncertainties including, but not limited to, factors detailed in CHC's
Annual Report on Form 20-F and in other filings with the United States
SEC. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual outcomes may vary
materially from those indicated.
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DATASOURCE: CHC Helicopter Corporation
CONTACT: Jo Mark Zurel, Senior Vice-President & Chief Financial Officer,
(709) 570-0567; Chris Flanagan, Director of Communications,
(604) 279-2493/340-7659; If you wish to be added to, or removed from, the
Company's distribution list, please e-mail: .;
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