Heli-One Composites

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Fri Jun 26, 2009 1:53pm EDT 

  VANCOUVER, BRITISH COLUMBIA, Jun 26 (MARKET WIRE) -- 
Heli-One Composites announced yesterday it has experienced a downturn in
the demand for manufactured aircraft components. The decreased demand has
been primarily caused by reductions in aircraft sales due to the world
economic environment.

    As a result, the business has decided to immediately reduce the workforce
at its Gander, Newfoundland facility. The reduction consists of
approximately 120 unionized and non-unionized staff.

    Despite the reduced demand, the business has not experienced a loss of
any contracts and has recently earned new certifications with additional
major aircraft companies. There are several contract opportunities
pending and the business is working with customers to replace the work
volume with new work packages. The business expects to be successful with
these opportunities.

Contacts:
Heli-One
Prab Dhanwant
Executive Assistant to the President
+1.604.952.7986
pdhanwant@heli-one.ca

Copyright 2009, Market Wire, All rights reserved.

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