May 2, 2013
VANCOUVER: Avcorp Industries Inc. (“Avcorp” or the “Company”) reports that it has received a Memorandum and
Order of the United States District Court for the District of Kansas which heard the motion by Cessna Aircraft
Company (“Cessna”), as filed by Cessna on November 26, 2012, to vacate the arbitration award made on November
16, 2012 in favour of the Company in the amount of USD27.4 million. Cessna’s motion to vacate was denied and the
Court affirmed the award to the Company. In addition, the Court awarded post‐award prejudgement interest at a
rate of 10% per annum from December 16, 2012 to the date of judgement. This prejudgement interest award totals
approximately USD1 million. The Court is expected to enter final judgement against Cessna in the amount of approximately USD28.4 million on or about May 8, 2013. Cessna could appeal the judgement to the United States
Court of Appeals for the Tenth Circuit by filing a notice within thirty days of entry of judgement.
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).
Sandi DiPrimo, Investor Relations Contact | 604-587-4938