TORONTO, Oct. 14 /CNW/ - Vector Aerospace Corporation ("Vector" TSX: RNO) www.vectoraerospace.com the world's largest independent provider of aviation maintenance, repair and overhaul (MRO) services has received a new license from Turbomeca for repair and overhaul of Arriel 2 engine models for North America; enabling Vector to service civilian Arriel 2 operators throughout Canada, the United States and Mexico.
Vector has been a major contributor to the Turbomeca support network and provider of Arriel 1 engine repair and overhaul services for nearly 20 years; holding approvals as an Arriel 1 Overhaul Centre and an Arriel 1 and 2 Service Centre, and providing world-class repair, overhaul and field technical support services to operators across North and Central America.
Declan O'Shea, Vector's President and Chief Executive Officer expressed that both the company and its customers are pleased with the new license approval, "We've been awaiting this development for some time. We are delighted to expand our long term partnership with Turbomeca in support of their products and our mutual end customers. With the addition of the Arriel 2 variants to our existing capabilities, we will be able to continue to deliver outstanding service to operators of current and future Eurocopter, Sikorsky and AgustaWestland helicopter platforms."
Serge Maille, Turbomeca's Vice President of Sales and Support commented about the growth of the Turbomeca and Vector partnership. "Vector's contributions to the repair and overhaul market are significant and we welcome the positive impact this growth will bring to the Turbomeca community. Vector's previous 20 year commitment to our common customers is respectable and appreciated during Turbomeca's quest in achieving exemplary support within the industry."
O'Shea emphasized that the addition of the Arriel 2 license is a logical extension of Vector's diverse portfolio of Original Equipment Manufacturer (OEM)-approved capabilities that include repair and overhaul of various engine models for both helicopter and fixed-wing applications, as well as dynamic components, structures and full-service avionics; up to and including glass cockpit Supplemental Type Certificate development and system integrations.
Paul Cockell, President of Vector Helicopter Services-North America believes the decision to award an Arriel 2 repair and overhaul license to Vector, complementing the Arriel 1 repair and overhaul capability creates a winning situation. "Vector's focus has always been and will continue to be Customer Service. This dedication to our customers and our products makes Vector the natural choice for the addition of an independent service provider to the Arriel product support network. We believe our close partnering relationship with Turbomeca in the provision of support solutions to operators of the Arriel family of engines will continue to lead to positive customer experiences."
A complete overview of Vector's capabilities, specific territories and variants of civilian Arriel engines can be viewed at www.vectoraerospace.com
Vector Aerospace Corporation is an independent provider of aviation repairs and overhaul services. Through facilities in Canada, the United States, the United Kingdom and Africa, Vector provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. It also provides information technology solutions to an international customer base. The Company has approximately 2,500 employees.
This news release contains certain information that may constitute forward looking information within the meaning of applicable securities laws. These statements are based on current expectation, related to the markets in which Vector operates, its financial condition and its general business. By their very nature, forward-looking statements involve inherent risks and uncertainties that the expectations will not be achieved. Indeed, the forward-looking statements herein, including, without limitation, anticipated future growth and earnings and licence term, may differ materially from actual results or events. While Vector considers the assumptions on which these statements are made to be reasonable, based on information currently available to it, they may prove to be incorrect and readers are cautioned, therefore, not to place undue reliance on these statements as a number of important factors could cause actual results to differ materially from those expressed in such forward-looking statements.
These factors include, without limitation, global and local political and economic factors and future demand for Vector's services. Readers should also refer to Vector's continuous disclosure materials filed with Canadian Securities Regulatory Authorities for additional information with respect to certain of these risk factors. A discussion of risk factors is contained in Vector's 2008 Annual Report which is available on Vector's website and on SEDAR. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vector may elect to, it is under no obligation and does not undertake to update or revise this information at any particular time, except as required by law.
SOURCE VECTOR AEROSPACE CORPORATION
For further information: For further information: Declan G. O'Shea, President and CEO, Vector Aerospace Corporation, Toronto, Ontario, (416) 640-2121; Randal L. Levine, Senior Vice-President and Chief Financial Officer, Vector Aerospace Corporation, Toronto, Ontario, (416) 640-2120; www.vectoraerospace.com