Amavco, Inc. Acquires Field Aviation From Hunting PLC

Cincinnati, OH (GLOBE NEWSWIRE) - Amavco, Inc., ("Amavco"), a privately held U.S. Company, today announces completion of the acquisition of Field Aviation Company Inc. ("Field Aviation") from Hunting, PLC, effective April 27, 2012.

Established in 1947 in Calgary, Alberta, Field Aviation is an international Aircraft Modification and Parts Manufacturing company with locations in Toronto, Ontario and Calgary, Alberta as well as Seattle, Washington and Cincinnati, Ohio in the United States. The company's products and services are organized around various aviation specialties, including, aircraft modification, parts manufacturing, interior modifications and upgrades, avionics service and installation as well as aircraft sales and leasing. Field Aviation operates from two production facilities totaling 150,000 square feet. Field Aviation also has two offices in the United States, its corporate headquarters in Cincinnati, Ohio and its U.S. West sales office located in Seattle, Washington. Field Aviation employs over 260 highly skilled staff across its operations.

Commenting on the acquisition, John Mactaggart, President and CEO of Field Aviation said: "Field Aviation has a long-standing and well regarded history in the aviation sector worldwide. Amavco was established with a single purpose to acquire and build companies in the aviation sector. I see this change in ownership as a great opportunity for us all at Field Aviation. With a clear focus from the Amavco board on growing our aviation business, I am very much looking forward to continuing to work with all our dedicated staff, customers and suppliers and continuing to build on the great name of Field Aviation in the coming years."

The acquisition of Field Aviation will allow Amavco to begin executing on its strategy of growth in the aviation services sector. Amavco will retain the current senior management of Field Aviation following the completion of the acquisition and will continue to invest in the Canadian operations driving business improvements for the benefit of customers and employees. Amavco is also planning to expand into the United States through organic growth or follow-on acquisitions. The company is currently in discussions with several potential acquisition targets and is also in early stages of identifying possible sites for its first U.S. Modification Center.

Commenting on its plans for expansion in the future, Dan Magarian, Chairman of Amavco said: "While we fully intend to pursue aggressive growth for our Canadian Operations, we are also excited about the prospects of growth in the U.S.   We are looking at suitable sites that will accommodate our needs and provide us appropriate incentives to help us fast-track plans. We expect to add 80-125 new jobs within the first several years of operations in the U.S."

For further information please contact:

Amavco, Inc. – info@amavco.com

Notes to Editors:

About Amavco
Amavco was formed in early 2012 by a team of seasoned executives with aviation and business backgrounds with the objective of acquiring established companies in the aviation sector and then building those companies through organic development and add-on acquisitions. Amavco was successful in completing its first major acquisition in April of 2012 with the purchase of Field Aviation Company, Inc. - Canada, and Field Aviation Inc. - U.S. Amavco is actively pursuing expansion of its business in Canada and the U.S. www.amavco.com

About Field Aviation
Field Aviation's key strengths are; an aircraft modification center of excellence, best known for complex special mission and interior conversions of heavy turboprop and turbofan aircraft, and a world-renowned parts manufacturing facility that specializes in the production of parts and assemblies for the international commercial and military aerospace industry.

Field Aviation makes ordinary aircraft extraordinary, delivering innovative, cost-effective and reliable special mission aircraft solutions-worldwide. Field Aviation's interior modification capabilities seamlessly transform regional airliners into VIP or corporate shuttle aircraft and its leading-edge avionics modification keeps clients aircraft productive, profitable and technologically advanced. Field Aviation's world-renowned engineering team designs, analyzes, tests and certifies, with excellence gained from decades of experience. Field Aviation has the most experienced team of aeronautical, mechanical and systems engineers of any company of its kind making Field Aviation the leading aircraft modifier to the world.

As a build-to-print manufacturer Field Aviation specializes in the production of parts and assemblies for the international aerospace industry. The complex manufacturing activities are carried out in a modern 77,000 square feet facility in Calgary. Capabilities include; sheet metal details, major and minor assemblies, conventional and CNC machining, CNC routing, milling, turning and forming, TIG and spot welding, heat treat of aluminum alloys and a full chemical processing and paint line. Parts made from composite materials such as floor panels, bulkheads, and avionics shelves are also produced in this facility.

Field Aviation is proud to be a product distributor for the world's premier avionics manufacturers. And for over 50 years, Field Aviation has sourced and sold new and pre-owned aircraft across Canada and the world - buying and selling business, commercial and military aircraft of all makes, models and categories www.fieldav.com

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Source: Amavco