08/21/2012 11:44 EDT | Updated 10/21/2012 05:12 EDT

Avcorp Industries Inc. says Boeing contract extended

VANCOUVER - Avcorp Industries Inc. (TSX:AVP) says it has signed a five-year contract extension with Boeing to provide the wheel well for the next generation 737 aircraft.

The contract is worth approximately $80 million over five years, starting in 2013 and also covers assemblies and components that support the next generation 737, 747-8, 767, and 777.

The company says the parts and assemblies will be manufactured and delivered from Avcorp's facility in Delta, B.C., which employs about 500 workers

Avcorp designs and builds airframe structures for some of the world's leading aircraft companies, including BAE Systems, Boeing, Bombardier, and Cessna.

"This extension represents a tremendous opportunity for even greater collaboration between our companies and fits perfectly with our continuous improvement and strategic growth plans," said Avcorp president and CEO Mark Van Rooij.