This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Erickson Air-Crane Incorporated Renews Contracts With Key Canadian Timber And Logging Partners

Erickson Air-Crane Incorporated (“Erickson”) has further cemented its position as the timber heavy lift service provider of choice in Canada, signing contracts with Helifor Canada (“Helifor”), an affiliate of Columbia Helicopters, and Western Forest Products Inc. (“Western”). For each of the two contracts, Erickson, which manufactures and maintains a fleet of S-64 heavy lift rotorcraft, will be providing one S-64E model helicopter – capable of lifting up to 20,000 pounds at a time – with pilots, full field maintenance support crews, parts, and components.

Erickson will be providing Helifor with logging services and transmission tower construction in western Canada, primarily in British Columbia. The contract is effective from January 1 through December 31 of 2013, has a value of $8-to-$10 million, and will be supported by Erickson affiliate Canadian Air-Crane. “This will be the third consecutive year that Erickson has contracted with Helifor to provide heavy lift aerial services in Canada, and we are pleased to continue the relationship,” said Erickson CEO Udo Rieder.

The Aircrane will be used to remove timber in remote, rugged terrain in coastal British Columbia, as an environmentally responsible alternative to incursive ground logging. Erickson will additionally provide expert lift services for precision placement of transmission towers for powerline construction in western Canada.

With Western, Erickson is also renewing an agreement that was operational in 2012, and the new agreement is valued at $10-to-$13 million, Erickson will provide aerial support for year-round selective logging efforts in British Columbia and Alberta. The S-64E will be used primarily for extraction of fir and red cedar trees in difficult terrain on remote timberlands. “Western Forest Products is one of the largest timber companies in Canada, and this agreement continues an existing, multi-year relationship between Erickson and Western,’ added Rieder.

“These two contracts maintain Erickson’s position as the leading heavy-lift helicopter provider to the Canadian timber markets, where we’ve been operating continuously for nearly forty years,” continued Rieder.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.44 -0.95%
GOOG $692.33 -0.84%
TSLA $232.32 -3.92%
YHOO $36.02 -1.40%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs