AAER Inc. announces that it has signed a ten-year lease agreement, with an option for an additional five years, with Olymbec Inc., the owner of the buildings that housed the former Hyundai plant in Bromont, Quebec.
?Under the terms of the agreement, AAER has initially leased 111,141 square feet to be used for the assembly of nacelles and will lease a further 43,230 square feet that will allow the company to begin operations in mid-2007. At the end of 2007, AAER will take possession of a second tranche of 223,000 square feet that will be used for the manufacture of composite blades. The plant's production capacity is estimated at 400 wind turbines per year. ?AAER has also leased an additional 36,700 square feet that will be used as office space and will house the company's head office, as well as 284,000 square feet of outdoor storage space.
