posted
Came across this deal the other day. Stock seeing an increase in accumulation the last 3 days. Chart shaping up. Heard some major buying was coming in Monday Feb. 23
Weatherly Aircraft Nevada, Inc. Announces First Aircraft Order
IRVING, TX, Feb 16, 2009 (MARKET WIRE via COMTEX) -- Weatherly Aircraft Nevada, Inc. ("Weatherly"), a wholly owned subsidiary of MP2 Technologies, Inc. ("MP2") (PINKSHEETS: MPTO), announced today the completion of the first firm order for the acquisition of 6 Weatherly 620B Agricultural Aircraft by Energy Ventures Fund LLC (EVF). In addition EVF has the option to add another 6 aircraft for delivery by the first quarter of 2010. The order represents $1,770,000 in immediate backlog for Weatherly.
EVF currently has a fleet of 14 general Aviation aircraft. EVF specializes in the leasing of aircraft in specific aviation markets. Key to their success is their exclusive Lease by the Hour program for operations that cannot afford new aircraft, or may need an aircraft for a specific period of time. EVF will be a strategic partner with Weatherly and will supply its aircraft when and where needed for Weatherly operators who need temporary use of an aircraft.
"We believe Weatherly Aircraft fits an immediate need that our clients have requested," said President Tracy Thomason. "EVF has selected the cream-of-the-crop commercial aviation companies with whom to partner and lease their products. Each partner has gone through an exhaustive evaluation to project future business profitability and aircraft use."
Patrick Thomas, President of MP2, stated, "This is the first of what we hope will be several multi-plane orders that we receive in the next few months. We have already received verbal orders from both the US and South America. Our challenge now is execution, not sales!"
In an unrelated matter, Weatherly plans to take possession of all the parts and manufacturing equipment from its previous owner this week, as well as sign a lease on a 50,000 sq. ft. manufacturing facility in Bogalusa, LA, if approved by its City Council on Tuesday. Parts and service sales will be the immediate focus of the company with aircraft being delivered by year end.
About Weatherly Aircraft Nevada, Inc.
Weatherly Aircraft Nevada, Inc. designs, manufactures and sells cost efficient, safe and reliable aerial application aircraft for agricultural, chemical and fire fighting applications. The Weatherly aircraft are based on an FAA issued "Type Certificate" for which the Company has the licensing rights. The current fleet size of Weatherly aircraft in service on a world wide basis is in excess of 200 planes. The Company intends to open its new US customer support center by March 2009 which will supply spare parts and technical support to existing customers. It is anticipated that newly built aircraft will be ready for delivery to customers in October of 2009.
About MP2 Technologies, Inc.
MP2 Technologies, Inc. serves as a holding company for technology and service related businesses that can share common management resources and access to marketing channels. New acquisitions will be announced from time to time as opportunities that fit the company's acquisition profile become available. Acquired companies will benefit from MP2's public company expertise, executive management, and sales and marketing contacts throughout the world. More information on the company can be found at their website at www.mp2technologies.com .
Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.
Contact: Richard Corline 951-763-4246
Posts: 94 | From: San Diego | Registered: Oct 2007
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