Avcorp Industries Inc. (TSX: AVP) (the "Company", "Avcorp" or the "Avcorp Group") is pleased to announce it has been awarded a contract extension with Lockheed Martin. The agreement extends into 2020 the current composite fabrication work scope, at Avcorp's Gardena California facility, for F-35 wing skin panels, nacelle panels and body access panels.
This follow-on contract complements Avcorp's assembly of the F-35 Carrier Variant ("CV") Outboard Wing ("OBW") structure which has been under a long-term contract with BAE Systems since 2011 in the Delta, British Columbia plant; as well as the recently awarded Lockheed Martin contract for the integration of paint preparation and complex installation of control surfaces and systems such as outboard leading edge flaps, ailerons, fairings and sub-systems for the CV OBW.
"We are very pleased with the schedule and quality improvement progress being made by the Gardena team and we believe this contract extension by Lockheed Martin reflects their confidence in Avcorp. We hope that in demonstrating our full capabilities with the combined resources of our plant sites that we will create additional collaboration opportunities with Lockheed Martin and help progress their Affordability Initiative for the F-35 program." states Peter George, CEO of the Avcorp Group.
Source: Avcorp Industries Inc.
Date: Jun 1, 2016