CHC acquires Multifabs Survival Ltd. ST. JOHN'S, NL, Aug. 18 /PRNewswire-FirstCall/ -- CHC Helicopter Corporation ("CHC") (TSX: FLY.A and FLY.B; NYSE: FLI) announced today that it has acquired all outstanding shares of Multifabs Survival Ltd. (Multifabs), an Aberdeen-based company specializing in the production of cold-water survival suits for military forces, emergency services and offshore oil and gas transportation companies around the world. CHC acquired Multifabs for a cash payment of CDN$17 million, including all outstanding debt. This acquisition will enhance CHC's ability to deliver the most comprehensive, cost-effective offshore services package to its customers in the oil and gas and Search and Rescue sectors. Multifabs complements the existing third-party marine, military and aviation safety equipment business of CHC's Stavanger-based Astec Helicopter Services division, adding an incremental $15 million in annual revenue. Multifabs, together with CHC's existing safety equipment supply and management services, comprises a new business unit with annual revenues of approximately $23.5 million. This new business unit provides good growth potential, particularly in the strategically important U.K. and U.S. government markets. CHC Helicopter Corporation is the world's largest provider of helicopter services to the global offshore oil and gas industry with aircraft operating in 30 countries and a team of approximately 3,400 professionals worldwide. If you wish to be added to, or removed from, the Company's distribution list, please e-mail: . This press release may contain projections and other forward-looking statements within the meaning of the "safe harbour" provision of the United States Private Securities Litigation Reform Act of 1995. While these projections and other statements represent our best current judgement, they are subject to risks and uncertainties that could cause actual results to vary. These statements may involve risks and uncertainties including, but not limited to, factors detailed in CHC's Annual Report on Form 20-F and in other filings with the United States SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. DATASOURCE: CHC Helicopter Corporation CONTACT: Jo Mark Zurel, Senior Vice-President & Chief Financial Officer, (709) 570-567; Chris Flanagan, Director of Communications, (709) 570-0749/685-1537; Atle Stromme, Managing Director, Astec Helicopter Services, +47 5194 1680, +47 9017 4792

Copyright