TORONTO, Dec. 17, 2013 /CNW/ - Discovery Air Inc. ("Discovery Air") announced today that Discovery Air Defence Services Inc. (a wholly-owned subsidiary of Discovery Air) has completed the acquisition of Advanced Training Systems International, Inc. ("ATSI"), which was previously announced on December 5, 2013.
Jacob Shavit, Discovery Air's President and Chief Executive Officer, stated: "We welcome ATSI to the Discovery Air Group of Companies and look forward to leveraging our U.S. team to accelerate the growth of our international defence services business."
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements (as defined in applicable securities laws). Forward-looking statements can be identified by words such as "believe", "expect", "should" and variations thereof. Forward-looking statements are based on assumptions and, as a result, are subject to risks and uncertainties, including those identified in Management's Discussion and Analysis relating to Discovery Air's financial statements, which are available at www.sedar.com.
In the case of Discovery Air's future potential in the market, such expectations could be materially affected by, among other things, decisions by governments with respect to the outsourcing of airborne training requirements, actions taken by Discovery Air's competitors, and changes in laws or procurement policies. As a result of such risks and uncertainties, it is possible that Discovery Air's expectations may not be realized, and readers should not place undue reliance on such statements.
Forward-looking statements represent expectations as of the date they are made, and Discovery Air disclaims any intention or obligation to update or revise any forward-looking statements it may make, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
ABOUT DISCOVERY AIR AND ITS SUBSIDIARIES
Discovery Air is a specialty aviation company operating over 160 aircraft with approximately 850 team members. Its subsidiaries provide airborne training to the Canadian military; helicopter operations; air ambulance services; airborne fire services; fixed-wing air charter services; expediting and logistics support; and a range of maintenance, repair, overhaul, modification, engineering and certification services.
Discovery Air's Class A common voting shares and unsecured convertible debentures trade on the Toronto Stock Exchange (symbols DA.A and DA.DB.A, respectively).
SOURCE: Discovery Air Inc.
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