Avcorp Announces Delivery of First CRJ-700 Vertical Stabilizer and Annual Revenue Increase of $4 Million.VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 29, 1998--Avcorp Industries Inc. (AVP AVP arginine vasopressin. on the Toronto and Montreal Exchanges Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg ) is pleased to announce delivery of the first Canadair Regional Jet Series 700 vertical stabilizer stabilizer: see airplane. to Bombardier Aerospace Bombardier Aerospace is a division of the Bombardier group, with the third largest workforce (behind Boeing and Airbus) and the fourth largest in yearly delivery of commercial airplanes (behind Boeing, Airbus and Embraer). . Work continues on the first horizontal stabilizer Noun 1. horizontal stabilizer - the horizontal airfoil of an aircraft's tail assembly that is fixed and to which the elevator is hinged horizontal stabiliser, tailplane , to be delivered in early December, as well as subsequent prototype units to be delivered in 1999. "The delivery culminates a dedicated commitment from all Avcorp divisions and suppliers in a coordinated effort with our customer to meet a rigorous delivery schedule," stated Ron Palfery, VP and GM of the Aerostructures Division. He added that "the precision and quality with which this structure can be assembled confirms our initial design considerations and justifies the capital expenditures in facilities and machine tools." The recent arrival of the major structural assemblies at Bombardier Aerospace coincides with their latest announcement of CRJ-700 sales to Comair, the Delta Connection Carrier of Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. . Firm orders are in place for 71 aircraft from 5 customers, as well as options for an additional 129 CRJ-700, for a total of 200 aircraft. This supports the Company's earlier conservative estimates of annual revenues of over $13 million. New orders for the 50-passenger CRJ-100/200 aircraft and Challenger business jets have recently been announced, resulting in an estimated $4 million annual revenue increase for the Company. "Naturally, we are pleased with these recent Bombardier announcements, as they indicate strong regional airline acceptance worldwide for these aircraft," stated Dale Hunt, VP, Marketing and Business Development. Avcorp Industries Inc. is a Canadian aerospace industry and advanced technology manufacturer. The Company is a single-source supplier for design, fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. , and assembly of metal, composite and plastic components for global aerospace and high technology markets. Formed in 1986, the Company is made up of four divisions; Aerostructures, Composites, Metal Products and Engineering, which offer our customers over 40 years of continuous operational experience. |
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