MONTREAL, Aug. 30 /PRNewswire-FirstCall/ - ExelTech Aerospace Inc. ("ExelTech Aerospace", "ExelTech" or the "Company"), (TSX Venture: XLT), Canada's largest publicly-listed commercial aircraft maintenance, repair and overhaul organization, today announced that it has signed a long-term contract to provide Bombardier Dash 8 regional turboprop aircraft maintenance services for Piedmont Airlines, which operates as US Airways Express. Piedmont is a wholly-owned subsidiary of US Airways Group, Inc.(LCC), the sixth largest airline in the United States .
Under the exclusive agreement, valued at up to Cdn$17 million, ExelTech will perform major maintenance, including structural inspections and repairs, in its Dash 8 Heavy Maintenance Facility at Quebec's Jean Lesage International Airport. The initial term is 30 months, with an option to extend for a further two years.
Salisbury, MD-based Piedmont Airlines provides nearly 440 daily departures to 55 cities throughout the eastern United States and Canada. Its fleet of 55 Dash 8 Series 100 and 300 aircraft makes it the largest Dash 8 operator in the US, and one of the largest in the world. ExelTech first began providing maintenance services for Piedmont in April 2006. Under this new contract, ExelTech commits to provide between one and two lines of continuous nose-to-tail maintenance until September 2009 .
"We are delighted to be entering a long-term relationship with Piedmont Airlines," said Bob Csirinyi, Vice President, Program Management, ExelTech Aerospace. "Piedmont is a well-respected regional carrier with high expectations from its maintenance suppliers. We are pleased that Piedmont is solidifying its relationship with ExelTech."
About ExelTech Aerospace
The third-largest commercial airframe Maintenance, Repair, and overhaul (MRO) vendor in Canada, ExelTech Aerospace is listed on the TSX Venture Exchange and trades under the symbol XLT. The company holds Transport Canada, U.S. Federal Aviation Administration (FAA) and European Aviation Safety Agency(EASA) approvals to repair a wide range of aircraft, structures, components and electrical and electronic systems. Aircraft models serviced by ExelTech Aerospace include Bombardier CRJ and Embraer ERJ regional jets; ATR-42 and 72, Bombardier Dash-8 and Saab 340 regional turboprops; and Boeing narrow-body airliners.
With 230,000 square feet of hangar, shop and office space in three facilities at Montreal and Quebec City, and with marketing offices in the US and Europe, ExelTech Aerospace provides maintenance repair and overhaul services to airlines in Canada, the US and 22 other countries around the world.
To learn more about ExelTech Aerospace Inc. (TSX Venture: XLT), please visit our website at www.exeltech-aerospace.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy of this release.
SOURCE EXELTECH AEROSPACE INC.
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