MONTREAL, April 11 /CNW/ - AAER Inc. (TSX-V: AAE) ("the Company" or
"AAER"), Canada's only wind turbine manufacturer, today announced that it has
signed a Memorandum of Understanding ("MOU") with IEC Holden Inc. to become
the Company's main supplier of power generators for use in AAER's wind
This agreement with one of North America's biggest manufacturers of
electric coils represents a major step forward for AAER. The MOU ensures a
steady supply of generators for the Company, thus helping to increase the
efficiency of its production line. IEC Holden is situated in Montreal, nearby
AAER's plant, which will also allow for a reduction in direct costs.
Major growth in the wind energy sector has placed significant pressure on
demand for components used in manufacturing wind turbines, and generators in
particular. This increased pressure is creating a shortage of wind turbines
and in turn leads to delays in the implementation of projects.
"Signing this agreement enables us to solidify our supply chain and at
the same time increases the domestic content of our product", declared Dave
Gagnon, President of AAER. "We are now well positioned to be able to
participate in Hydro-Quebec's invitation to tender."
About AAER Inc. (TSX-V: AAE)
AAER is a wind turbine manufacturer, located in Bromont, Quebec, that was
built on a progressive vertical integration strategy. Its mission is to
integrate, manufacture, distribute and maintain high-capacity wind turbines in
North America that generate 1 to 1.5 MW of power. AAER uses proven European
technologies to ensure high performance of its turbines in various wind
conditions and on complex terrain. Its stock is listed on the TSX Venture
Exchange (AAE). Additional information is available on the Company's Website
About IEC Holden Inc.
IEC Holden has been in business for almost 100 years, handling large or
steady-volume production of medium- to large-sized motors and alternators for
OEM clients, with capacity for more than 20,000 AC stator and DC armature
coils that was developed over the past eight years. IEC Holden has developed a
reputation for excellence based on the exceptional quality of its products.
This news release contains certain forward-looking statements. These
statements relate to future events or AAER's future economic performance, and
reflect the current assumptions and expectations of management. Certain
unknown factors may affect the events, economic performance and results of
operations described herein. AAER undertakes no obligation, and does not
intend, to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as may be
required under applicable law.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: AAER Inc., Dave Gagnon, President, Telephone:
(450) 534-5155, www.aaer.ca; The Equicom Group Inc., Eric Bouchard, Telephone:
(514) 844-7997, firstname.lastname@example.org