Press Release

Ledcor Air Limted Signs Letter of Intent to Acquire Artic Sunwest Charters

May 22, 2012

Image of DHC-5 Buffalo

PRESS RELEASE - VANCOUVER, BC – Ledcor Air Limited, a member of The Ledcor Group of Companies and a sister company of Yellowknife based Summit Air Charters, announced today that it has entered into a Letter of Intent with RTL-Westcan LP to acquire Arctic Sunwest Charters, based in Yellowknife.

“We are hopeful that following a thirty day confirmatory due diligence period, a definitive purchase and sale agreement will be concluded. The effective date of the purchase would be September 1, 2012, subject to certain regulatory approvals,” said Paul McElligott, President of both Ledcor Air Limited and Summit Air Charters. 

Ledcor is headquartered in Vancouver, British Columbia and employs approximately 7,700 people across 20 offices. Founded in 1947, Ledcor has become one of the most diversified construction conglomerates in North America. Ledcor provides a range of construction services in addition to environmental solutions, forest products, and marine, aviation and trucking transportation services. 

“The acquisition of Arctic Sunwest Charters re-enforces our commitment to the delivery of quality aviation services in the North and beyond,” said McElligott. “It will enable us to continue to grow as a carrier in a way that will allow us to better serve the need of our valued customer base. It will provide access to different segments of the market, which we were unable to service in the past due to limitations associated with fleet size and composition.”