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© cybaero Electronics Production | May 17, 2017

Cybaero: 'Framework and order has since been terminated'

In February CybAero's application for an export license regarding export for deliveries under the framework agreement signed between CybAero, ACC and AVIC Supply and Marketing Huabei CO. LTD 2014 and the delivery agreement for 20 systems signed between CybAero and ACC in 2015 was rejected.
Information on the framework agreement was announced to the market on July 2, 2014 and information on the delivery agreement on March 31, 2015. On April 12, 2017 CybAero alerted the market to a recall of an export license by the ISP (Inspectorate for Strategic Products) of a demo system for the same customer and contemporaneously informed the market that CybAero and ACC had agreed to start unconditional discussions about a new frame agreement and a new helicopter contract in good faith. The current framework and order has since been terminated.

It is CybAero’s hope that its current discussions about the conditions for a new framework agreement and any possible deliveries under a new agreement will continue. There is currently no framework agreement in place governing the 20 systems that had been previously announced nor has CybAero been granted an export license for any of those systems. With no framework agreement currently in place and no export license - no delivery of any of the 20 systems CybAero announced to the market on March 31, 2015 will take place.

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September 25 2017 3:40 PM V8.7.2-1