Precision Aviation Group Companies Sign 'Tier-1' Multi-Year Contract with Heli-One

ATLANTA, Nov. 10 /PRNewswire/ -- Precision Aviation Group (PAG) subsidiaries Precision Heliparts-Canada (PHP-C), and Precision Accessories & Instruments-Canada (PAI-C) have been awarded a multi-million dollar contract for Component Repair and Overhaul services by Vancouver, Canada-based Heli-One. The contract names PHP-C as a "Tier-One" provider for a period of 3 years.

"This contract will further our commitment to support Heli-One in every way possible," said PHP-C's Vice-President of Business Development Steve Lambert. "I am extremely pleased that PHP-Canada has been recognized as a primary vendor to Heli-One with this agreement. I'm confident that as PHP expands its capabilities, we will be able to support this customer for many years to come."

The agreement - valued at approximately $10 MM USD per year -- includes Maintenance Repair and Overhaul (MRO) services on more than 950 line items for Heli-One's 400-plus fleet of Sikorsky, Bell, Eurocopter and Agusta rotary -- wing aircraft. The line items include Instruments, Avionics, Starter Generators, Hydraulics, Fuel Accessories, Wheels/Brakes, Electrical and Electronic Accessories.

"This is an exciting time for Heli-One as we execute the details of our repair/overhaul/exchange agreement with PHP Canada," said Lars Landsnes, VP -- Supply Chain for Heli-One. "Built on a total cost of ownership platform, this contract reinforces our supply chain vision of engaging our partners to create real supply chain solutions. I commend PHP-Canada for embracing and committing to this new challenge."

David Mast, President & CEO of PAG, said "We are excited about this commitment of continued growth for our Supply Chain and MRO business with Heli-One. We have made substantial capital investments in tooling/equipment, facilities, logistics and inventory in direct support of Heli-One. This contract award shows our commitment and ability to support large fleets of aircraft like those that Heli-One services. We look forward to supporting Heli-One for the length of this contract and beyond."

About Heli-One Heli-One, a division of Canadian Helicopter Corporation (CHC) is the world's largest, independent helicopter support company, providing Airframe, Engine and Component Repair and Overhaul, Modifications, Inspections, Completions and Logistics support for 20 different aircraft types, operated by customers around the world.

About Precision Aviation Group (PAG) is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With sales/service facilities in the United States and Canada, PAG uses its distinct business units and customer focused business model to serve aviation customers through two business functions - Aviation Supply Chain and Inventory Supported Maintenance, Repair and Overhaul - (ISMRO).

PAG provides parts and MRO services for Helicopters and Fixed-wing aircraft through Precision Heliparts (PHP www.heliparts.com) and Precision Avionics & Instruments (PAI www.precisionavionics.com) in Atlanta, GA and Precision Heliparts - Canada (PHP-C www.heliparts.ca) and Precision Accessories & Instruments (PAI-C www.pai-canada.com) in Vancouver, BC. PAG has MRO capability on 8,000 different products, including Accessories, Avionics, Instruments and Starter Generators.

www.precisionaviationgroup.com

SOURCE Precision Aviation Group

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