Tag Archives: Udo Rieder

Business, Finance, Occupation & Industry

Erickson Air-Crane to Webcast its Presentation at the 25th Annual ROTH Conference

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By Business Wirevia The Motley Fool

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Erickson Air-Crane to Webcast its Presentation at the 25 th Annual ROTH Conference

PORTLAND, Ore.–(BUSINESS WIRE)– Erickson Air-Crane, Inc. (NAS: EAC) , a leading operator and the manufacturer of the powerful heavy-lift helicopter, the Erickson S-64 Aircrane, announced today that it will be presenting at the 25th Annual ROTH Conference in Dana Point, California. The presentation is to be held at 10:30 a.m. PT (1:30 p.m. ET) on Wednesday, March 20, 2013.

Udo Rieder, the Company’s President and Chief Executive Officer, will deliver the Company presentation. A live webcast of the presentation can be accessed at investors.ericksonaircrane.com.

About Erickson Air-Crane Incorporated

Erickson Air-Crane specializes in the operation and manufacture of the Erickson S-64 Aircrane (the “Aircrane”), a versatile and powerful heavy-lift helicopter. The Aircrane has a lift capacity of up to 25,000 pounds and is the only commercial aircraft built specifically as a flying crane without a fuselage for internal loads. The Aircrane is also the only commercial heavy-lift helicopter with a rear load-facing cockpit, combining an unobstructed view and complete aircraft control for precision lift and load placement capabilities. Erickson Air-Crane owns and operates a fleet of 18 Aircranes, which are used to support a wide variety of government and commercial customers worldwide across a broad range of aerial services, including firefighting, timber harvesting, infrastructure construction, and crewing. Erickson Air-Crane also manufactures Aircranes and related components for sale to government and commercial customers and provides aftermarket support and maintenance, repair, and overhaul services for the Aircrane and other aircraft. Founded in 1971, Erickson Air-Crane is headquartered in Portland, Oregon with its principal manufacturing facility based in Central Point, Oregon. For more information, please visit http://www.ericksonaircrane.com.

Investor Relations
ICR
James Palczynski, +1 203-682-8229
jp@icrinc.com

KEYWORDS:   United States  North America  California  Oregon

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Business, Finance, Occupation & Industry

Erickson Air-Crane Announces Acquisition of Evergreen Helicopters, Inc.

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By Business Wirevia The Motley Fool

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Erickson Air-Crane Announces Acquisition of Evergreen Helicopters, Inc.

— Transformative, Accretive Acquisition of Global, Diversified Air Services Business —

— Acquisition Would Double the Size of the Company —

PORTLAND, Ore.–(BUSINESS WIRE)– Erickson Air-Crane Incorporated (NAS: EAC) (“Erickson Air-Crane”, the “Company”, “we”, “us” and “our”), a leading operator and the manufacturer of the powerful Erickson S-64 Aircrane heavy-lift helicopter, today announced that it has executed a stock purchase agreement for the purchase of Evergreen Helicopters, Inc. (“EHI“) from Evergreen International Aviation, Inc. (“EIA“).

EHI, based in McMinnville, Oregon, is a diversified global provider of air transport services for cargo and personnel to government and commercial customers. EHI was founded by aviation pioneer Mr. Delford Smith. At closing, this transaction would provide Erickson Air-Crane with an incremental fleet of 64 aircraft, consisting of both helicopters and fixed-wing airplanes. This diverse fleet serves a wide range of customers, including significant passenger transport and airlift services for the US military. EHI‘s operations span the globe, including a presence in North America, the Middle East, Africa, and Asia Pacific.

In calendar year 2012 EHI‘s unaudited revenue was $196.0 million and Adjusted EBITDA was $56.2 million, representing an Adjusted EBITDA margin of over 25%. The Company noted that when calculating EBITDA, EHI, in line with certain other aviation companies, adds back the amortization of certain capitalized overhaul costs. We are conforming our Adjusted EBITDA presentation, and adding back amortization of certain capitalized overhaul costs. For purposes of comparability, our 2012 Adjusted EBITDA, which was reported as $44.5 million, is $57.2 million under the new presentation. There is no change to the Company’s reported 2012 income statement or net cash flows due to this change in non-GAAP presentation. For a reconciliation of this non-GAAP financial measure, see “Reconciliation of Non-GAAP Financial Measures” in this press release.

Udo Rieder, President and Chief Executive Officer of Erickson Air-Crane, said, “We are very excited to be on the cusp of truly transforming our business. We are successfully transcending our market position as a leader in heavy-lift operations to build a diverse, global aviation services provider. Our combined company will offer a comprehensive set of capabilities, a world-class customer base, a diverse portfolio of aircraft, and the ability to service nearly every corner of the globe.”

Under the terms of the purchase agreement, EHI is being acquired from EIA for $250.0 million, consisting of $185.0 million in cash, $17.5 million in …read more
Source: FULL ARTICLE at DailyFinance