Blog Post
Avcorp Receives Confirmed Orders from Lockheed Martin Expanded Scope on the F-35 Outboard Wing
- By Avcorp Industries
- •
- 15 Apr, 2016
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.
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.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) today announced its financial results for the three and nine month periods ended September 30, 2016. All amounts are in Canadian currency unless otherwise stated.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) is pleased to announce that it has been awarded a long-term production contract with the Aerospace Company of Fuji Heavy Industries Ltd.
(“FHI”), a tier-one supplier to major original equipment manufacturers (“OEM”) of
commercial and defence aircraft around the world.
Move designed to optimize work flows and generate significant annual cost savings
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) announced today that it has closed a $5 Million USD unsecured loan facility.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) today announced that it has been awarded multiple production contracts from Boeing.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) today announced its second quarter financial results for the quarter ended June 30, 2016.
Avcorp Industries and the University of British Columbia have agreed to explore the establishment of a Learning Factory for Advanced Composites at UBC’s Okanagan campus.
Avcorp Composite Fabrication Inc. (ACF), located in Gardena, California (Avcorp Industries Inc. most recent acquisition) is pleased to announce that it has reached a Collective Bargaining Agreement with the Glass Molders and Plastics Union (GMP) Local 19 for a six (6) year labor contract.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp Group”) is pleased to announce it has been awarded a contract extension with Lockheed Martin. The agreement extends into 2020 the current composite fabrication work scope, at Avcorp’s Gardena California facility, for F-35 wing skin panels, nacelle panels and body access panels.
Avcorp Industries Inc. (TSX: AVP) (the “Company”, “Avcorp” or the “Avcorp
Group”) today announced that at its annual meeting of shareholders held on May 19, 2016
(the “Meeting”), all directors nominated as listed in the management proxy circular dated
April 21, 2016 were elected.