CHC Completes Sale of Non-Core Operation

CHC Helicopter has completed the sale of Schreiner Canada Ltd, for net proceeds of CDN$6.8 million in cash, to Meggitt Trading Canada Inc, a subsidiary of Meggitt PLC.

Schreiner Canada, a non-core component of the Schreiner business segment, assembles, services and operates unmanned air, ground and sea vehicles and targets for training military forces and the defense industry from its base in Medicine Hat, AB, Canada.