Vector Aerospace Corporation
TSX : RNO

Vector Aerospace Corporation

April 05, 2007 16:25 ET

Vector Announces Management Changes

TORONTO, ONTARIO--(Marketwire – April 16, 2007) - Vector announces today a number of management changes in its North American Operations.

Effective immediately John MacDougall will take on the position of President of ACROHELIPRO Global Services Inc. and Brian Thompson will assume the position of president of Atlantic Turbines International Inc.

John MacDougall has over twenty years experience in the aerospace industry and has served as the President of Atlantic Turbines since its inception over fifteen years ago. He has built a stable, dedicated and highly effective management team at Atlantic Turbine and under his leadership, Atlantic Turbines has grown significantly with demonstrated strong profitability.

Brian Thompson joined Atlantic Turbines in 2006 and is a key member of the current senior management team. He holds an MBA from the University of Western Ontario and prior to joining Atlantic Turbines, held a number of senior management positions with Aliant Inc. and Atlantic Canada Opportunities Agency (ACOA).

Peter Tierney, current President of ACROHELIPRO has resigned and effective immediately will be transitioning out of his role in Vector. He will be returning to the UK to pursue an opportunity that fits with his long term personal objectives.

In commenting on the management changes, Vector's President and Chairman, Donald Jackson noted:

"We thank Peter for his years of fine service at Sigma Aerospace and ACROHELIPRO and wish him well in his new endevors.

I am confident that both ACROHELIPRO and Atlantic Turbines will continue to flourish under the leadership of John and Brian. Today, Vector has a strong organization and its long term priorities and strategies will remain unchanged. Vector will continue to pursue a growth strategy focused on creating and enhancing shareholder value."

Vector Aerospace Corporation is an independent provider of aviation repair and overhaul services. Through facilities in Canada, the United States and the United Kingdom it provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. It also provides information technology solutions to an international customer base. Principal operations include Atlantic Turbines, Sigma Aerospace, ACROHELIPRO and Pathix. The Company has approximately 1,100 employees.

Forward-looking Statements

This news release contains statements referring to the future. These statements are based on current expectations, related to the markets in which Vector Aerospace Corporation operates and its financial condition, and the general business of the Company.

By their very nature, forward-looking statements involve inherent risks and uncertainties that the expectations will not be achieved. Indeed, the forward-looking statements may differ materially from actual results or events. Readers are cautioned, therefore, not to place undue reliance on these statements as a number of important factors could cause actual results to differ materially from those expressed in such forward-looking statements. These factors include, without limitation, global and local political and economic uncertainty, and future demand for the Company's service. Readers should also refer to the Company's continuous disclosure materials filed with Canadian Securities Regulatory Authorities for additional information with respect to certain of these risk factors. A discussion of risk factors is contained in the Company's 2006 Annual Report which is available on the Company's website and on SEDAR. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Contact Information

  • Vector Aerospace Corporation
    Donald K. Jackson
    Chairman, President & CEO
    (416) 925-1143
    or
    Vector Aerospace Corporation
    Randal L. Levine
    Senior Vice-President and Chief Financial Officer
    (416) 925-1143
    www.vectoraerospace.com