Monday, 12 May 2008

AMA Returns To The Heart Of Africa

AeroMechanical Services (TSX:V - AMA)
Basic Shares: 82.2 million
Fully Diluted: 90 million


Another African airline will be installing AeroMechanical's patented and breakthrough technology on board at least 19 of its aircraft.
It was a swift hit for the market.
The five-year contract, that could be worth up to $2.8 million, will see the first two installations of the technology next month, followed by two aircraft in July, five in August and the remaining 10 aircraft after September.
This unidentified carrier brings the total aircraft contracted for the technology to 718 from 30 different airlines throughout the world. Another African airline signed on for AMA's technology earlier.
To view the full news release, please click here.
Immediately following the announcement, AMA shares rose three per cent and volume was up sharply.