Vector Aerospace announces new contract with Boeing
The work is part of the MoD's investment in Chinook helicopters to enable them to operate more effectively in
The modification programme involves the integration of a new 'glass cockpit' into the Chinook aircraft which together with an engine upgrade and existing work to upgrade other onboard systems will provide an increase in the capability of the aircraft. The initial contract value is approximately
Vector UK Managing Director
Declan O'Shea, President and Chief Executive Officer of Vector, said: "We are delighted to deepen our long-term partnership with Boeing in the development of the Chinook European Centre of Excellence at our Fleetlands facility. Our primary objective continues to be the support of the MoD and the safety of its Service men and women."
Vector Aerospace Corporation is an independent provider of aviation repairs and overhaul services. Through facilities in
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.
For further information: Declan G. O'Sheam, President and CEO, Vector Aerospace Corporation, (416) 640-2121; Randal L. Levine, Senior Vice-President and Chief Financial Officer, Vector Aerospace Corporation, (416) 640-2120; www.vectoraerospace.com
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