FLYHT Aerospace Solutions Ltd.
TSX Venture: FLY
Shares Issued: 140,386,166
Fully Diluted: 179,132,626
In a move that sends positive signals to the market and supports FLYHT management’s public position that 2013 would be the front end of an accelerated growth curve, the Company has signed an agreement that will remove any cap on future production capacity.
Today’s announcement that Florida-based Jabil Circuit (NYSE: JBL) will begin manufacturing both the AFIRS 228 products as soon as this quarter was underpinned by some clarity on the relatively new Airbus relationship.
- FLY expects the A320 related business to be ~25% of the annual production of that model
- Last year Airbus manufactured 401 A320 aircraft - http://en.wikipedia.org/wiki/Airbus_A320_family
FLYHT isn’t discussing what else it has up its sleeve for 2013 amongst its expanding customer base, but has stated its objective is to be cash flow positive by year end.
In the news release, President and CEO Bill Tempany commented, “We know Jabil has the global production volumes to obtain preferred pricing and reduced lead times for our products and to meet our anticipated volume needs. We are working on the certification required by Transport Canada to have product delivered directly from the Jabil manufacturing facility to our end-customers and are looking forward to the streamlining of our processes.”
Jabil reported over $17 billion in Fiscal 2012 revenues and is involved in a number of sectors from defense to clean tech to healthcare instrumentation. http://www.jabil.com/
To view the full news release, please click here.