Heli-One

Heli-One
CHC Helicopter Corporation

CHC Helicopter Corporation

June 26, 2009 13:52 ET

Heli-One Composites

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2009) - Heli-One Composites announced yesterday it has experienced a downturn in the demand for manufactured aircraft components. The decreased demand has been primarily caused by reductions in aircraft sales due to the world economic environment.

As a result, the business has decided to immediately reduce the workforce at its Gander, Newfoundland facility. The reduction consists of approximately 120 unionized and non-unionized staff.

Despite the reduced demand, the business has not experienced a loss of any contracts and has recently earned new certifications with additional major aircraft companies. There are several contract opportunities pending and the business is working with customers to replace the work volume with new work packages. The business expects to be successful with these opportunities.

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