PORTLAND, Ore., March 07, 2017 (GLOBE NEWSWIRE) -- Erickson Incorporated, a leading global provider of aviation services, has been selected by the Forest Aviation Headquarters, a subsidiary of the Korea Forest Service, to build an S-64E model with an intended delivery date of December 2017. The S-64 is well-known in Korea and has a strong reputation for being the best firefighting aircraft available. In 2001, KFS was the first foreign government to purchase S-64 helicopters from Erickson. Currently KFS is operating three S-64E helicopters and conducts business with Erickson for parts purchasing and service support. The S-64 has a greater and more powerful firefighting capacity than the rest of the KFS fleet. “From previous S-64 operations experienced by the Korea Forest Service, the S-64E shows overwhelming improved performance on forest firefighting using a helicopter,” said FAH Operation Manager, Mr. M. J. Kim of the Korea Forest Service.
The Aircrane will be manufactured to include a firefighting helitank and foam cannon. Erickson’s manufacturing and maintenance, repair and overhaul capacity has been expanded in 2016 to accommodate Navy contracts for refurbishment of the MH 53 program.
Andy Mills, vice president of Global Business Development said, “We are grateful for the trust the Korea Forest Service has placed in us as we begin to build the Aircrane and will endeavor to build on the spirit of friendship generated through the 15 years we have conducted business together. Our focus will continue to be insuring our Korean customers are happy with the customer support we provide and our attention to operational integrity and safety. We believe our Erickson Aircrane is the most powerful aerial firefighting machine in the market and that this aircraft will provide a tremendous value for Korea.”
Erickson developed the helitank system in 1992, and continues to manufacture and operate them for fire suppression. The helitanker has several unique features that make it best-in-class for wildland firefighting. The tanks can hold up to 2,650 gallons (10,000 liters) of water or retardant with foam injection capability. The aircraft can be equipped with a hover pump snorkel or a ram hydrofoil sea snorkel, both of which allow for shallow water intake of either fresh or salt water in 30 to 45 seconds. Pilots can choose from eight different computerized coverage drop levels to maximize the suppression effect for each individual fire condition. The aircraft can be re-configured for other missions within a few hours after the tank is removed. This rugged, reliable system has been effectively proven hundreds of times, with millions of gallons of water dropped while supporting firefighting missions around the world.
The Erickson S-64 Aircrane is a premier heavy-lift precision helicopter that features an aft-facing pilot seat, providing unique and specialized lift and placement capabilities across a variety of platforms to include construction, HVAC installations, transmission powerline installations, and infrastructure projects ranging from dams to gas lines to waterlines. The heavy lift capability, coupled with the benefits of flying where there is no road, river, rail or runway access, allows Erickson to provide services that cannot be performed via traditional lift functions from the ground. Erickson is the FAA Type Certificate holder and manufacturer of the Aircrane helicopter.
About Erickson
Erickson is a leading global provider of aviation services and operates, maintains and manufactures utility aircraft to safely transport and place people and cargo around the world. The Company is self-reliant, multifaceted and operates in remote locations under challenging conditions specializing in Global Defense and Security, Manufacturing and MRO, and Civil Aviation Services (comprised of firefighting, HVAC, power line, construction, timber harvesting, oil and gas, and specialty lift). With roots dating back to 1960, Erickson operates a fleet of approximately 69 aircraft, is headquartered in Portland, Oregon, USA, and operates in North America, South America, Europe, the Middle East, Africa, Asia Pacific, and Australia. For more information, please visit our new website at www.ericksoninc.com .
This press release certain statements relating to future results (including, without limitation, “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “predict”), which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements, including those relating to the intent, beliefs, plans or expectations of the Company are based upon current expectations and are subject to a number of risks, uncertainties and assumptions. It is not possible to predict or identify all such factors and the following list should not be considered a complete statement of all potential risks and uncertainties relating to the Company, which include, but are not limited to: (i) the Company’s ability to obtain the Bankruptcy Court’s approval with respect to motions or other requests made to the Bankruptcy Court in the Chapter 11 Cases, including maintaining strategic control as debtor-in-possession, (ii) the ability of the Company and its subsidiaries to negotiate, develop, confirm and consummate a plan of reorganization, (iii) the effects of the filing of the bankruptcy petitions on the Company’s business and the interests of various constituents, (iv) the Bankruptcy Court rulings in the Chapter 11 Cases, as well the outcome of all other pending litigation and the outcome of the Chapter 11 Cases in general, (v) the length of time that the Company will operate under Chapter 11 protection and the continued availability of operating capital during the pendency of the Chapter 11 proceedings, (vi) risks associated with third party motions in the Chapter 11 Cases, which may interfere with the Company’s ability to confirm and consummate a plan of reorganization, (vii) the potential adverse effects of the Chapter 11 proceedings on the Company’s liquidity or results of operations, (viii) increased advisory costs to execute the Company’s reorganization, (ix) the impact of the NASDAQ delisting on the Company’s ability to access the public capital markets, (x) the uncertainty that any trading market for the Company’s common stock will exist or develop in the over-the-counter markets, (xi) the findings of the audit committee with respect to errors in the Company’s previously issued financial statement, that the Company may be unable to timely prepare and file financial information correcting the errors and the uncertainty as to whether any additional accounting errors or other issues are identified, (xii) the Company’s ability to continue as a going concern; and other risks disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and quarterly report on Form 10-Q for the quarter ending June 30, 2016 filed with the U.S. Securities and Exchange Commission These risks and uncertainties could cause actual results to differ materially from those described in the forward-looking statements. You should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact Susan Bladholm- Media requests (971) 255-5023, sbladholm@ericksoninc.com Zachary Cotner - Investor Relations (503) 505-5804, zcotner@ericksoninc.com
