July 30, 2013
/PRNewswire/ - Avcorp Industries, Inc. (the "Company") is pleased to announce that International Association of Machinists and Aerospace Workers Local Lodge 11 have ratified a new 6 year collective agreement contract with the Company today, by a two-thirds majority.
This six year agreement provides improvements to base wage rates each year and improvements to benefits, as well as incentives for early and normal retirees during the first two years of the contract.
"This is an important accomplishment for all of us here at Avcorp," said
Mark van Rooij
, CEO of Avcorp, "because it strikes a balance between the best interests of our highly skilled workforce and the economic realities of an extremely competitive global aerostructures marketplace. The most progressive and responsible suppliers in our industry are all looking for long term agreements with their work forces because it provides the stability of supply that customers are looking for. This agreement serves the interests of all of our stakeholders, and puts Avcorp front and centre in the minds of customers when they are looking to place new work."
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
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
location also offers composite repairs for commercial aircraft. Avcorp is a Canadian public company traded on the Toronto Stock Exchange (TSX:AVP).
MARK VAN ROOIJ
PRESIDENT and CHIEF EXECUTIVE OFFICER