Avcorp gets approvals for acquisition of Hitco Carbon Composites

Avcorp Industries Inc. (AVP: TSX) has received all regulatory approvals related to the transaction for the acquisition of the US-based composite aerostructures division of Hitco Carbon Composites Inc., a subsidiary of Frankfurt-listed SGL Carbon SE, the company said.

Closing conditions, as set out in the definitive agreement for the acquisition, are in the process of being satisfied as the company works towards completion of the acquisition.

The Avcorp Group designs and builds major airframe structures for some of the world´s leading aircraft companies, including BAE Systems, Boeing and Bombardier. With more than 50 years of experience, over 385 skilled employees and 340,000 square feet of facilities, the Avcorp Group offers integrated composite and metallic aircraft structures to aircraft manufacturers.