SYMBOL: NAS Common Shares
CAMBRIDGE, ON, March 19 /CNW/ - Northstar Aerospace Inc. ("Northstar"),
its subsidiary Northstar Aerospace (Canada) Inc. and others have been named as
defendants in a Statement of Claim filed in the Ontario Superior Court of
Justice by a former Cambridge resident alleging damages (general and punitive)
to health and property values suffered as a result of environmental issues
relating to the historical operations of Northstar Aerospace (Canada) Inc.'s
Cambridge, Ontario facility. To date, the claim has not been served on either
Northstar or Northstar Aerospace (Canada) Inc.
Northstar Aerospace (Canada) Inc. has for some time been working with the
Ontario Ministry of the Environment and local authorities and residents on
various environmental remediation issues relating to historical operation of
the Cambridge facility and plans to continue to do so.
Northstar and Northstar Aerospace (Canada) Inc. believe they have strong
defenses to the claim, have referred the matter to counsel and intend to take
all appropriate actions to defend their position vigorously.
Northstar Aerospace, Inc. (www.nsaero.com) is North America's leading
independent manufacturer of flight critical gears and transmissions. Northstar
Aerospace is a public company (TSX:NAS) with operating subsidiaries in the
United States and Canada. Its principal products include helicopter gears and
transmissions, accessory gearbox assemblies, rotorcraft drive systems and
other machined and fabricated parts. It also provides maintenance, repair and
overhaul of helicopter engines and transmissions. The Company's executive
offices are located in Chicago, Illinois. Its plants are located in Chicago,
Illinois; Phoenix, Arizona; Stroud, Oklahoma; Anderson, Indiana; and Milton
and Windsor, Ontario.
This release contains forward-looking statements regarding certain legal
and environmental proceedings involving Northstar and its subsidiary Northstar
Aerospace (Canada) Inc. Actual results may differ materially from these
statements depending on such key factors as the timing and ultimate findings
or conclusions in connection with such proceedings.
For further information:
For further information: Craig A. Yuen, Vice President and Chief
Financial Officer, (708) 728-2121