HNZ expands its northern operations
March 10, 2016 By HNZ Group
HNZ Group Inc., an international provider of helicopter transportation and related support services, has announced it has enhanced its presence North of 60 through the creation of Acasta HeliFlight Inc.
Acasta will be based in Yellowknife, NWT and provide specialized Northern Canadian VFR helicopter transportation services across all sectors of the regional economy. Acasta will be primarily under the leadership of president Adam Bembridge, a local aviation executive with experience in the North and a recognized pioneer in the area of building mutually beneficial alliances with Northern Aboriginal organizations. Bembridge personally holds an equity share in Acasta.
“We are very pleased to be expanding our onshore operations in Northern Canada”, said Don Wall, president and chief executive officer of HNZ Group. “Acasta is a promising partnership which combines the technical expertise, financial strength and economies of scale of HNZ with the Northern know-how of a proven innovator like Adam Bembridge, who has deep ties in all corners of the North. We believe there are exciting opportunities in the territories which will contribute to diversifying and extending the reach of HNZ. This is especially valuable in light of current market challenges facing many of the economic sectors we serve”.
HNZ’s approximate $3.4 million investment, made through the contribution of certain owned assets, makes it the majority shareholder in Acasta. The new company takes its name from the Acasta Gneiss, a rocky outcrop on Tlicho land in the Slave geological province roughly 300 km north of Yellowknife. Using radiometric dating, this rock – named for the nearby Acasta River east of Great Bear Lake – is said to have formed 4 billion years ago making it the oldest known intact piece of the Earth’s crust.
“I’m extremely proud to not only be a part of this investment in the North personally, I’m thrilled to have a such a dynamic partner like HNZ Group making this significant investment in the future of my home community of Yellowknife,” said Acasta President Adam Bembridge. “Together we see this as a strategic investment that will create stable, long-term Northern employment. I personally look at Acasta HeliFlight as an opportunity, in otherwise challenging times, to demonstrate our commitment to our fellow Northerners and do our part to contribute to the overall stability of our economy.”
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