Avcorp Industries Selected as One of Three Major Component Suppliers by Honda Aircraft Company



    VANCOUVER, March 16 /CNW/ - Avcorp Industries is pleased to report the
contents of the following news release issued yesterday by Honda Aircraft
Company:

    
       Honda Aircraft Company Advances Toward Production of HondaJet,
         Three North American Aviation Companies Become Key Suppliers
    

    GREENSBORO, NC - Honda Aircraft Company, Inc., (HACI) today announced
agreements with GKN Aerospace-Alabama, Avcorp Industries, Inc., and Garmin
International Inc., as major component suppliers for the HondaJet advanced
light jet, to be produced(1) at a state-of-the-art plant in Greensboro, North
Carolina.
    GKN, of Tallassee, Alabama, will supply HACI with the fuselage structural
sub-assembly. Garmin, of Olathe, Kansas, will supply a unique state of the art
avionics system designed specifically for HondaJet. Avcorp, of Delta, British
Columbia, Canada, will supply HondaJet's wing structural sub-assembly.
    "We are pleased to be entering into collaboration with some of North
America's top aviation industry suppliers, as we continue to focus on
developing an innovative aircraft of the absolute highest quality for our
customers," said Michimasa Fujino, President and CEO of Honda Aircraft
Company, Inc. "The sourcing of these key components from suppliers in the U.S.
and Canada is consistent with Honda's philosophy of producing products close
to the customer."
    Honda Aircraft Company on February 9 announced plans to establish its
world headquarters and jet plant in Greensboro, North Carolina, with
construction of new facilities at Piedmont Triad International airport.
Scheduled to open late this year, the 215,000 square foot headquarters will be
the center of all activity related to HondaJet, including type certification,
all sales, marketing and service support activity, and continued research and
development activities. HACI expects to employ more than 300 associates at its
headquarters and manufacturing facilities once the plant reaches full
production.
    The HACI production facility, to be built adjacent to the headquarters,
will handle production of HondaJet, including final assembly of all structural
components and parts, aircraft system assembly and installation, completion of
the interior, and painting. The Greensboro production facility is scheduled to
begin deliveries to customers in 2010.

    -------------------
    (1) produced using domestic and globally sourced parts


    Honda Aircraft Company, Inc. and HondaJet
    -----------------------------------------
    Greensboro-based Honda Aircraft Company, Inc., is responsible for the
continued development, certification and production of HondaJet, as well as
all marketing, sales and service support.
    HondaJet, Honda's first-ever commercial aircraft, lives up to the
company's reputation for superior fuel efficiency, delivering 30-35 percent
better cruising fuel efficiency than comparable jets, along with a
class-topping cruise speed of 420 knots (450 mph) and a more spacious cabin
with room for up to eight people. All major assembly and testing of the
prototype HondaJet has been conducted at the company's existing Greensboro
facility, which opened in 2001 as an extension of Honda's global R&D
operations.
    The decision to commercialize HondaJet was announced in July 2006,
followed by the August 4, 2006, establishment of Honda Aircraft Company, Inc.
The company has received more than 100 customer orders for the $3.65 million
HondaJet since its launch, October 17, 2006. The HondaJet production facility
will become Honda's seventeenth major manufacturing plant in North America,
including two currently under construction in Indiana and in Ontario, Canada.
    See www.hondajet.com for further information.





For further information:

For further information: Sheryl Brecknell, Investor Relations, (604)
587-4921


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