April 15, 2016
VANCOUVER: Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) is pleased to
announce that further to the contract award from Lockheed Martin announced on October 15, 2015 for the expanded
scope on the F-35 Carrier Variant Outboard Wing (“CV OBW”), Avcorp has received a firm order for the remaining
units in the next two production phases, referred to as Low Rate Initial Production (“LRIP”) nine and LRIP ten.
Avcorp’s established New Product Introduction (“NPI”) process will ensure the successful knowledge and skills
transfer from Lockheed Martin, required for the intricate work of paint preparation and complex installation of
control surfaces and systems such as the outboard leading edge flaps, ailerons, fairings and sub-systems. The NPI
planning phase is nearing completion and production will begin in the second quarter 2016. The delivery of the first
shipset to Lockheed Martin’s Final Assembly and Check Out facility in Fort Worth, Texas, USA is on-schedule for the
third quarter 2016, with subsequent confirmed orders extending out to 2018.
“We are excited with the recent collaboration efforts between Lockheed Martin and Avcorp. The resulting increases
in efficiency and cost savings to the F-35 Program are a testament to the types of synergy opportunities available to
our customers. With the recent acquisition of key composite manufacturing capabilities through our new subsidiary,
Avcorp Composite Fabrication (“ACF”), we are in discussions with Lockheed Martin to further expand our role on the
F-35 Program,” said Peter George, Avcorp Group’s CEO.
The Avcorp Group designs and builds major airframe structures for some of the world’s leading aircraft companies, including BAE Systems, Boeing, Bombardier, Fuji Heavy Industries and Lockheed Martin. The Avcorp Group has more than 50 years of experience, over 800 skilled employees and 636,000 square feet of facilities. Avcorp Structures & Integration located in Delta British Columbia, Canada is dedicated to metallic and composite aerostructures assembly and integration; Avcorp Engineered Composites located in Burlington Ontario, Canada is dedicated to design and manufacture of composite aerostructures, and Avcorp Composite Fabrication located in Gardena California, USA has advanced composite aerostructures fabrication capabilities for composite aerostructures. 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. Comtek Advanced Structures Ltd., at our Burlington, Ontario, Canada location also provides aircraft operators with aircraft structural component repair services for commercial aircraft.
Avcorp Composite Fabrication Inc. is wholly owned by Avcorp US Holdings Inc. Both companies are incorporated in The State of Delaware, USA, and are wholly owned subsidiaries of Avcorp Industries Inc.
Comtek Advanced Structures Ltd., incorporated in the Province of Ontario, Canada, is a wholly owned subsidiary of Avcorp Industries Inc.
Avcorp Industries Inc. is a federally incorporated reporting company in Canada and traded on the Toronto Stock Exchange (TSX:AVP).
Sandi DiPrimo, Investor Relations Contact | 604-587-4938