Avcorp completes USD28.0m settlement of award from Cessna

VANCOUVER, Sept. 5, 2013 /CNW/ - Avcorp Industries, Inc. (the "Company") 
reports that it has entered into a settlement agreement with the Cessna 
Aircraft Company ("Cessna") which settles all outstanding litigation between 
the Company and Cessna. The settlement requires payment by Cessna of 
USD27,964,513 in satisfaction of the judgement entered against Cessna from 
an arbitration award made on November 16, 2012. The settlement funds are due 
to the Company on September 6, 2013. 
This settlement follows the original arbitration award wherein the arbitration 
panel awarded the Company damages in the amount of USD27,391,372, which, under 
the terms of an arbitration agreement between Cessna and the Company, was a 
final and binding award. On May 8, 2013, the United States District Court 
for the District of Kansas (the "District Court") entered a final judgement in 
the Company's favour on the arbitration award in the aggregate amount, 
including prejudgment interest, of USD28,464,513. 
A notice of appeal and a motion to stay execution was filed by Cessna on June 
7, 2013 in the United States Court of Appeals for the Tenth Circuit from the 
judgement entered against Cessna on May 8, 2013 by the District Court. 
This settlement satisfies the judgement and will result in the dismissal of 
the outstanding appeal. 
About Avcorp 
Avcorp designs and builds major airframe structures for some of the world's 
leading aircraft companies, including BAE Systems, Boeing, and Bombardier. 
With more than 50 years of experience, over 400 skilled employees and 354,000 
square feet of facilities in Delta BC and Burlington ON, 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. Our Burlington location also offers composite repairs for 
commercial aircraft. Avcorp is a Canadian public company traded on the Toronto 
Stock Exchange (TSX:AVP). 
(signed)  MARK VAN ROOIJ
PRESIDENT and CHIEF EXECUTIVE OFFICER 
Forward-Looking Statements 
This release should be read in conjunction with the Company's unaudited 
financial statements contained in the Company's Annual Report and with the 
quarterly financial statements and accompanying notes filed with Sedar 
(www.sedar.com). 
Certain statements in this release and other oral and written statements made 
by the Company from time to time are forward-looking statements, including 
those that discuss strategies, goals, outlook or other non-historical matters; 
or projected revenues, income, returns or other financial measures. These 
forward-looking statements are subject to risks and uncertainties that may 
cause actual results to differ materially from those contained in the 
statements, including the following: (a) the extent to which the Company is 
able to achieve savings from its restructuring plans; (b) uncertainty in 
estimating the amount and timing of restructuring charges and related costs; 
(c) changes in worldwide economic and political conditions that impact 
interest and foreign exchange rates; (d) the occurrence of work stoppages and 
strikes at key facilities of the Company or the Company's customers or 
suppliers; (e) government funding and program approvals affecting products 
being developed or sold under government programs; (f) cost and delivery 
performance under various program and development contracts; (g) the adequacy 
of cost estimates for various customer care programs including servicing 
warranties; (h) the ability to control costs and successful implementation of 
various cost reduction programs; (i) the timing of certifications of new 
aircraft products; (j) the occurrence of further downturns in customer markets 
to which the Company products are sold or supplied or where the Company offers 
financing; (k) changes in aircraft delivery schedules or cancellation of 
orders; (l) the Company's ability to offset, through cost reductions, raw 
material price increases and pricing pressure brought by original equipment 
manufacturer customers; (m) the availability and cost of insurance; (n) the 
Company's ability to maintain portfolio credit quality; (o) the Company's 
access to debt financing at competitive rates; and (p) uncertainty in 
estimating contingent liabilities and establishing reserves tailored to 
address such contingencies.
 

SOURCE  Avcorp Industries Inc. 
Contact:Sandi DiPrimo, Investor Relations Contact 604-587-4938 
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CO: Avcorp Industries Inc.
ST: British Columbia
NI: AIR  
-0- Sep/05/2013 22:24 GMT
 
 
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