2012-01-19_delivery f-35

Avcorp announces Delivery of First F-35 Outboard Wing Production Unit for the F-35 Lightning II

January 19, 2012

First Delivery of the F35 Outboard Wing At a ceremony held at its Delta, B.C facility today, Avcorp Industries announced the delivery of the first F-35 Carrier Variant Outboard Wing (CV-OBW) production unit intended for in-service operation. The Honourable Julian Fantino, Associate Minister of National Defence, attended the ceremony along with special guests from BAE Systems and Lockheed Martin. Avcorp will deliver the first production unit direct to the final assembly line at Lockheed Martin Aeronautics in Fort Worth, Texas, USA.

“This first delivery marks a critical milestone for the Company, our suppliers, the F35 Program and the Canadian Aerospace Industry here in lower mainland” said Avcorp President and CEO Mark Van Rooij. “The Outboard Wing is regarded as one of the most complex assemblies that the Canadian aerospace industry contributes to the F-35 program and we are honored to have Minister Julian Fantino here with us today to share in this very important event.”

Avcorp secured the F-35 Outboard Wing contract in 2009, following a period of close collaboration with Industry Canada, BAE Systems and Lockheed Martin. Planning and rollout of manufacturing capabilities and quality systems occurred throughout 2010 with initial production beginning mid-2010.

Avcorp is currently the single source for this critical assembly. The Outboard Wing is the foldable portion of the wing on the carrier version of the F-35. It allows for easier handling and storage of the aircraft on the Carriers’ deck and hangers, while keeping its long-range and low-landing speed flight characteristics. The Outboard Wing will be fitted onto the first production standard F-35 carrier version.

Avcorp is currently contracted to 260 ship sets, with opportunity to secure 340+ ship sets of Outboard Wings for the F-35 (CV). The total estimated value including the additional opportunity could be over $500 million over 10 to 15 years of production. This program creates more than 75 family wage jobs at Avcorp and supports many more in the local community.

About Avcorp
Avcorp designs and builds major airframe structures for some of the world’s leading aircraft companies, including Boeing, Bombardier, BAE Systems and Cessna. With more than 50 years of experience, 483 skilled employees and 354,000 square feet of facilities, 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. Avcorp is a Canadian public company traded on the Toronto Stock Exchange (TSX:AVP).

Sandi DiPrimo, Investor Relations Contact | 604-587-4938
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