Entry into Very Light Jet (VLJ) Market
Avcorp Industries Inc. (TSX."AVP") celebrates 50 years in business today with a new contract which provides entry into the very light jet new market segment, and sponsorship of a new aerospace training facility plus partnership in leading-edge composites research with British Columbia Institute of Technology (BCIT).
"To be entering the Very Light Jet market segment with a contract to supply wing skins for the Cessna Citation Mustang sets Avcorp on a course into the future of aviation," states Paul Kalil, President. "Avcorp is pleased to commemorate its 50 years in business with sponsorship of a new aerospace structures training facility and with a partnership for composites research.
Strategic onload of 13 metal bond assemblies will ensure the successful start-up of this new program with no impact to production of existing metal bond products. The assemblies range in complexity and size up to trailing edge and wing skin assemblies. The total annual value is approximately USD$1.3 million, with
potential to increase to USD$6.0 million based on Avcorp's capacity.
Very Light Jets, also known as VLJs, Microjets, and Personal Jets hold the promise to revolutionize aviation and the way we travel for business and pleasure. The private jet charter may finally become an affordable reality for a massive number of businesses and individual travelers with the advent of the VLJ aircraft.
Avcorp also commemorates its 50 year celebration with a contribution to the aerospace industry in British Columbia and the local community. Avcorp is providing $100,000 over the next 5 years for sponsorship of an
Avcorp Structures Laboratory at the new British Columbia Institute of Technology (BCIT) Aerospace Technology Campus. This new facility for aerospace structures training will provide graduates for highly-skilled, high-paying jobs for British Columbians and ensure that Avcorp's growing needs for qualified workers are met.
BCIT and Avcorp have also signed a Memorandum of Understanding to establish a state-of-the-art composite materials research, development and testing facility located at the BCIT aerospace campus.
The research facility will occupy approximately 25,000 square feet at the new BCIT Aerospace Technology Campus in Richmond, BC, where research, development, prototyping, limited production and testing work will be conducted on composite materials.