Avcorp ceases litigation with Bombardier over Termination for Convenience

VANCOUVER, Jan. 24, 2013 /CNW/ – Avcorp Industries Inc. (“Avcorp” or the “Company”) announces today that it has ceased any and all litigation against Bombardier Inc. (“Bombardier”) which was commenced in 2010 by the Company in the Superior Court of Quebec, in connection with the termination by Bombardier of production work relating to the CRJ700 aircraft program. The Company and Bombardier agreed that each will be responsible for their respective costs. Avcorp is actively pursuing participation in Bombardier’s supply chain for several of Bombardier’s programs. The Company currently produces components for the Bombardier Challenger 605 and Challenger 850 business jets as well as composite floorboards for the CRJ, Q400, and Learjet programs. The Company looks forward to continuing its valued relationship as a supplier to Bombardier, the leading Canadian aerospace manufacturer.