2012-12-07_notice of complaint

Avcorp receives notice of complaint from Cessna Aircraft Company

December 7, 2012

VANCOUVER: Avcorp Industries Inc. (the “Company” or “Avcorp”) reports that it has received notice of a complaint filed by the Cessna Aircraft Company (“Cessna”) in the United States District Court (Kansas) pursuant to which Cessna seeks to vacate the November 16, 2012 arbitration award in favour of the Company. The arbitration panel awarded Avcorp $27.4 million, which, under the terms of the arbitration agreement between Cessna and Avcorp, is a final and binding award. It is the Company’s belief and position that the complaint made by Cessna does not satisfy the narrow legal grounds on which the arbitration award could be vacated. The complaint was filed by Cessna on November 26, 2012 and the Company is required to respond within 90 days. The Company intends to vigorously pursue the confirmation of the arbitration award and the dismissal of Cessna’s motion to vacate with the U.S. District Court.

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).

Contact:
Sandi DiPrimo, Investor Relations Contact | 604-587-4938
Share by: