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Exchange Income Corporation's Subsidiary, PAL Aerospace, notified of preliminary Contract Award Decision for a performance based contract to provide Maritime Patrol Aircraft as Air Reconnaissance Capacity for the Netherlands Coastguard
Exchange Income Corporation's Subsidiary, PAL Aerospace, notified of preliminary Contract ...
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[{"type":"text","content":"\n\n\n\nExchange Income Corporation's Subsidiary, PAL Aerospace, notified of preliminary Contract Award Decision for a performance based contract to provide Maritime Patrol Aircraft as Air Reconnaissance Capacity for the Netherlands Coastguard\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nWINNIPEG, MB, Aug. 6, 2020\n\n\n\nWINNIPEG, MB, Aug. 6, 2020 /CNW/ - Exchange Income Corporation (TSX: EIF) (\"EIC\" or the \"Corporation\") a diversified, acquisition-oriented company focused on opportunities in the aviation, aerospace and manufacturing sectors, is pleased to announce its subsidiary, PAL Aerospace, has received notice of the preliminary contract award decision regarding a performance based contract to provide Maritime Patrol Aircraft as Air Reconnaissance Capacity for the Netherlands Coastguard . This future contract, to be executed for Ministry of Defence for the Netherlands on behalf of the Netherlands Coastguard, would see PAL Aerospace and its consortium member JetSupport, modify and deliver two fully missionized DHC-8 aircraft, provide crew training on all systems and support the operation of the aircraft for an initial ten-year period with an option to extend for two additional one-year terms.\nThrough a careful and thorough evaluation of tenders submitted to the Netherlands Ministry of Defence, the JetSupport/PAL bid (acting as a consortium) was found to have the Best-Price-Quality-Ratio.  In accordance with the Dutch Public Procurement Law, there is a prescribed stand-still period following the preliminary notification of award before the contract award decision becomes final. PAL and JetSupport anticipate receiving the final award decision shortly.\n\"PAL Aerospace's success in this bidding process is a validation of EIC's strategy of making long-term investments for returns in the future,\" said EIC Chief Executive Officer Mike Pyle. \"By following this investment philosophy, EIC has supported the development of PAL Aerospace's unmatched credentials in Special Missions Aircraft operations through the delivery of the Government o...