8-Apr-2015 Source: Erickson
Erickson Incorporated (NASDAQ:EAC), a leading global provider of aviation services, announced today that the company has renewed key contracts with the US Forest Service as well as with Canadian aerial heavy lift company Helifor Canada (“Helifor”), a subsidiary of Columbia Helicopters.
Jeff Roberts, Chief Executive Officer & President of Erickson Incorporated, commented, “I am happy these valued government and commercial customers selected us once again and gave us a vote of confidence in our ability to serve their needs. These agreements help provide stability to our recurring base of business and reflect our successful previous performance.”
The US Fire Service agreements guarantee the use of multiple S-64 Aircranes previously utilized under these contracts for the 2015 North American fire season. These deployed assets are contracted as exclusive use, meaning predictable income and consistent cash flow. The aircraft will be deployed as needed to mitigate the impact of wildfires in national forests and adjacent public and private lands. The potentially devastating risk of fire continues to be underscored by ongoing, severe drought conditions across the western United States.
The selection and extension for timber harvest work with Helifor Canada contemplates year-round activity in British Columbia; the Company noted the contract is effective January 1, 2015 through December 31, 2015. The Company will continue to provide our S64-E model asset and Erickson’s holistic capability as standard practice: pilots, full field maintenance support crews, parts, and components. The Company noted that it has operated in Canada, its longest-standing international market for the past 25 years.
About Erickson Incorporated
Erickson is a leading global provider of aviation services specializing in oil and gas, government services, legacy aircraft MRO and manufacturing, and commercial services such as firefighting, HVAC, power line, specialty, construction, and timber harvesting. Erickson operates a fleet of approximately 80 rotary-wing (light, medium, and heavy) and fixed-wing aircraft, including 20 heavy-lift S-64 Aircranes. Founded in 1971, Erickson is headquartered in Portland, Oregon, USA, and maintains operations in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit www.ericksonaviation.com.
About Helifor Canada
Helifor Canada is an industry leader in providing on time, reliable, and safe heavy lift solutions. A subsidiary of Columbia Helicopters that’s been in business for over 35 years, Helifor is the only Canadian operator licensed to use the highly specialized Vertol 107 and Chinook 234. Helifor has built a reputation for innovation and dependability in the industry as a result of stable management, deeply experienced flight and maintenance crews, long term relationships, and repeat customers. For more information, please visit www.helifor.com.