AVCORP Files Preliminary Prospectus for Rights Offering


    Common Stock Listed
    Trading Symbol: AVP

    VANCOUVER, Aug. 17 /CNW/ - Avcorp Industries Inc. ("Avcorp" or the
"Company") (TSX: AVP) announced today that it has filed with Canadian
securities regulatory authorities in all of the provinces and territories of
Canada a preliminary prospectus (the "Preliminary Prospectus") related to the
rights offering forming part of the previously announced restructuring as
disclosed in the Company's press release dated July 14, 2009. The Preliminary
Prospectus is available at www.sedar.com.

    About Avcorp

    Avcorp designs and builds major airframe structures for some of the
world's leading aircraft companies, including Boeing, Bombardier, and Cessna.
With 50 years of experience, more than 650 skilled employees and a 300,000
square foot facility near Vancouver, Canada, the Company's depth and breadth
of capabilities are unique in the aerospace industry for a company of its
size. Avcorp is a Canadian public company traded on the Toronto Stock Exchange
(TSX."AVP"). More information is available at www.avcorp.com.

    (signed)                                         (signed)

    MARK VAN ROOIJ                                   PAUL KALIL
    CHIEF EXECUTIVE OFFICER                          PRESIDENT

    Forward-Looking Statements

    Certain statements in this release and other oral and written statements
made by the Company from time to time are forward-looking statements,
including those that discuss strategies, goals, outlook or other
non-historical matters; or projected revenues, income, returns or other
financial measures. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
contained in the statements, including the following: (a) the extent to which
the Company is able to achieve savings from its restructuring plans; (b)
uncertainty in estimating the amount and timing of restructuring charges and
related costs; (c) changes in worldwide economic and political conditions that
impact interest and foreign exchange rates; (d) the occurrence of work
stoppages and strikes at key facilities of the Company or the Company's
customers or suppliers; (e) government funding and program approvals affecting
products being developed or sold under government programs; (f) cost and
delivery performance under various program and development contracts; (g) the
adequacy of cost estimates for various customer care programs including
servicing warranties; (h) the ability to control costs and successful
implementation of various cost reduction programs; (i) the timing of
certifications of new aircraft products; (j) the occurrence of further
downturns in customer markets to which the Company products are sold or
supplied or where the Company offers financing; (k) changes in aircraft
delivery schedules or cancellation of orders; (l) the Company's ability to
offset, through cost reductions, raw material price increases and pricing
pressure brought by original equipment manufacturer customers; (m) the
availability and cost of insurance; (n) the Company's ability to maintain
portfolio credit quality; (o) the Company's access to debt financing at
competitive rates; and (p) uncertainty in estimating contingent liabilities
and establishing reserves tailored to address such contingencies.

For further information:

For further information: Sandi DiPrimo, Investor Relations Contact,
(604) 587-4938

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