Avcorp confirms CJ4 Cessna agreement
Sept. 10, 2008, Vancouver - Avcorp Industries Inc. has announced that it has signed an agreement with Cessna Aircraft Company to supply the tail assembly for Cessna's new Citation CJ4 business jet.
Sept. 10, 2008, Vancouver – Avcorp Industries Inc. has announced that it has signed an agreement with Cessna Aircraft
Company to supply the tail assembly for Cessna's new Citation CJ4 business
jet. The agreement includes detail tooling fabrication along with manufacture,
assembly, product support and spares for the Citation CJ4.
The contract is
expected to generate approximately US $110 million in revenue over the first
ten years of the life of the aircraft. First flight of the Citation CJ4
occurred on May 5, 2008 with first Avcorp deliveries set for the first quarter
of 2009. Avcorp has worked with Cessna on this program over the past year and
a half and will eventually invest approximately $2.5 million in the
manufacturing, engineering and start up.
The Citation CJ4 business jet is an upward extension of the CJ family
delivering the strongest performance and payload balance in the series along
with advanced amenities and system architecture. The aircraft is expected to
have a maximum speed of 435 knots, a full fuel payload of 1,000 pounds and
maximum payload of 2,100 pounds. The popular Citation CJ line of business jets
(CJ1+, CJ2+ and CJ3), have amassed sales of more than 900 airplanes with over
1.3 million hours flown.
Avcorp designs and builds major airframe structures for some of the
world's leading aircraft companies, including Boeing, Bombardier, and Cessna.
With over 50 years of experience, more than 800 skilled employees and 385,000
square feet of facilities, Avcorp offers integrated composite and metallic
aircraft structures to aircraft manufacturers, a distinct advantage in the
pursuit of contracts for new aircraft designs, which require lower-cost,
light-weight, strong, reliable structures. Avcorp is a Canadian public company
traded on the Toronto Stock Exchange (TSX:AVP). More information is available
at www.avcorp.com .