MONTREAL, Jan. 26, 2017 /CNW Telbec/ - HNZ Group Inc. (TSX: HNZ) (the "Corporation"), an international provider of helicopter transportation and related support services, announced today the extension of the Emergency Health Services ("EHS") LifeFlight air ambulance helicopter services contract with the Province of Nova Scotia. HNZ, operating under the brand Canadian Helicopters, will continue to support EHS through an amended agreement.
The Corporation will supply two Sikorsky S-76C+ helicopters, an upgrade from one currently employed Sikorsky S-76A model. Both the primary and backup aircraft will be configured with an emergency medical service interior to be used for critical patient transport, and will be based out of Halifax, Nova Scotia. The amended agreement is set to commence on August 1, 2017 with an expiration date of March 31, 2032. Revenues will be approximately $105 million over the course of the contract and will be invoiced in Canadian dollars. Since the LifeFlight program commenced in 1996, the Halifax based aircraft has transported over 10,000 critical patients.
"We are very pleased with the ongoing confidence that EHS has placed in the safety and quality of our services and operations," said Don Wall, President and CEO of HNZ Group. "This amendment represents a renewed relationship with the Province of Nova Scotia that we have had since 1996. We look forward to continuing to support the people of Nova Scotia."
ABOUT HNZ GROUP INC.
HNZ Group is an international provider of helicopter transportation and related support services with operations in Canada, New Zealand, Australia, Norway, Southeast Asia and Antarctica. The Corporation operates in excess of 115 helicopters to support offshore and onshore charter activities under a number of different brands. Offshore operations are provided under the Norsk brand in Norway and HNZ elsewhere in the world, while onshore charter operations are under the Canadian Helicopters brand in Canada, Acasta in Northern Canada and the HNZ brand in Asia-Pacific and Antarctica. Clients consist of multinational companies and government agencies including offshore and onshore oil and gas, mineral exploration, military support, hydro and utilities, forest management, construction, air ambulance and search and rescue. In addition to charter services, it provides ancillary services which include third-party repair and maintenance services and advanced flight training by the internationally recognized HNZ Topflight training center in Penticton, British Columbia. HNZ Group is a publically traded company on the Toronto Stock Exchange (TSX: HNZ) and is headquartered near Montreal, Canada and employs approximately 600 personnel from 37 locations around the world.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements including those relating to the future contractual relationship between the Corporation and the customer named herein and in particular with respect to the expected revenues and duration of such relationship. Forward-looking statements can be identified by words such as assumption, project, target and other similar expressions or future or conditional verbs such as anticipate, expect, intend, may and will. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they were made. The Company disclaims any intention or obligation to update or revise any forward- looking statement, whether as a result of new information, future events or otherwise except as required by applicable laws.
SOURCE HNZ Group Inc.
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For further information: HNZ Group Inc., Matt Wright, CFA, MBA, Vice President and Chief Financial Officer Tel.: 780-429-6903