15 April 2007
15 April 2007
Avcorp Industries has entered into an agreement to acquire Comtek Advanced Structures (Comtek), which has expertise in the design and low-cost manufacture of advanced composite aerostructures.
""The combined companies would possess an in-depth capability to design, manufacture and support a wide range of composite and metallic aircraft structures,"" noted Paul Kalil, President. ""Avcorp's aerospace expertise along with Comtek's advanced composites capabilities will allow the new entity access to additional aerospace markets.""
Comtek has invested in excess of CAD$7 million to develop advanced proprietary resin infusion technology. The first commercial application of this technology by Comtek has been utilized on the Airbus A380 program. Comtek has annual revenue of approximately CAD$18 million and has been in business for 13 years. It has 90 employees of which 12 are engineers involved in research and product development operating out of Burlington Ontario and Phoenix Arizona.
As part of the agreement, Avcorp is to invest CAD$1.5 million into Comtek, of which up to CAD$ 200,000 will be in shares of Avcorp at a deemed value of $2.85 per share, with the CAD$1.3 million balance for working capital.
The Department of Lightweight Design and Structural Materials (LsW) at Brandenburg University of Technology (BTU) Cottbus has received a brand-new AFP system from Mikrosam.
Web Industries, a precision formatter of flexible materials and an outsource manufacturer, has been awarded associate membership in the prestigious National Composites Centre.
Porcher Industries has celebrated the opening of its new Chinese manufacturing site. The inauguration of Zhejiang Porcher Industries New Material on 22 November demonstrates the company’s commitment and confidence in the region, its Chinese partners and the next chapter of growth for Porcher Industries as a global leader in technical textiles.