CHC Acquires Multifabs Survival Ltd.

CHC Helicopter Corporation has acquired all outstanding shares of Multifabs Survival Ltd. (Multifabs), an Aberdeen-based company specializing in the production of cold-water survival suits for military forces, emergency services and offshore oil and gas transportation companies around the world. CHC acquired Multifabs for a cash payment of CDN$17 million, including all outstanding debt.

This acquisition will enhance CHC's ability to deliver the most comprehensive, cost-effective offshore services package to its customers in the oil and gas and Search and Rescue sectors. Multifabs complements the existing third-party marine, military and aviation safety equipment business of CHC's Stavanger-based Astec Helicopter Services division, adding an incremental $15 million in annual revenue.

Multifabs, together with CHC's existing safety equipment supply and management services, comprises a new business unit with annual revenues of approximately $23.5 million. This new business unit provides good growth potential, particularly in the strategically important U.K. and U.S. government markets.

CHC Helicopter Corporation is the world's largest provider of helicopter services to the global offshore oil and gas industry with aircraft operating in 30 countries and a team of approximately 3,400 professionals worldwide.