TORONTO, Dec. 17, 2013 /CNW/ - Discovery Air Inc. ("Discovery Air")
announced today that Discovery Air Defence Services Inc. (a
wholly-owned subsidiary of Discovery Air) has completed the acquisition
of Advanced Training Systems International, Inc. ("ATSI"), which was
previously announced on December 5, 2013.
Jacob Shavit, Discovery Air's President and Chief Executive Officer,
stated: "We welcome ATSI to the Discovery Air Group of Companies and
look forward to leveraging our U.S. team to accelerate the growth of
our international defence services business."
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements (as defined in
applicable securities laws). Forward-looking statements can be
identified by words such as "believe", "expect", "should" and
variations thereof. Forward-looking statements are based on
assumptions and, as a result, are subject to risks and uncertainties,
including those identified in Management's Discussion and Analysis
relating to Discovery Air's financial statements, which are available
In the case of Discovery Air's future potential in the market, such
expectations could be materially affected by, among other things,
decisions by governments with respect to the outsourcing of airborne
training requirements, actions taken by Discovery Air's competitors,
and changes in laws or procurement policies. As a result of such risks
and uncertainties, it is possible that Discovery Air's expectations may
not be realized, and readers should not place undue reliance on such
Forward-looking statements represent expectations as of the date they
are made, and Discovery Air disclaims any intention or obligation to
update or revise any forward-looking statements it may make, whether as
a result of new information, future events or otherwise, except as
required under applicable securities laws.
ABOUT DISCOVERY AIR AND ITS SUBSIDIARIES
Discovery Air is a specialty aviation company operating over 160
aircraft with approximately 850 team members. Its subsidiaries provide
airborne training to the Canadian military; helicopter operations; air
ambulance services; airborne fire services; fixed-wing air charter
services; expediting and logistics support; and a range of maintenance,
repair, overhaul, modification, engineering and certification services.
Discovery Air's Class A common voting shares and unsecured convertible
debentures trade on the Toronto Stock Exchange (symbols DA.A and
SOURCE: Discovery Air Inc.