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MP2 Technologies, Inc. Announces the Acquisition of Weatherly Aircraft Nevada, Inc.
Business
Jan 12 2009
4 min read

MP2 Technologies, Inc. Announces the Acquisition of Weatherly Aircraft Nevada, Inc.

Company PressRelease

SOURCE: MP2 Technologies.

 

MP2 Technologies, Inc.Announces the Acquisition of Weatherly Aircraft Nevada, Inc.

Irving, TX January 12, 2009, MP2 Technologies, Inc. ("MP2")(OTC: PK MPTO) announced today the completion of a definitive agreement toacquire 100% of Weatherly Aircraft Nevada, Inc. ("Weatherly"). Weatherly holds anexclusive license to develop the Weatherly aircraft, a single engine aerialplane used in a variety of areas, including crop dusting, seeding, spreading ofpesticides, and fire fighting. Weatherly acquired the license to build theaircraft from its original developer in November of 2008. At present there areapproximately 200 Weatherly aircraft in use on a global basis.

Jeff Magnus, COO of Weatherly and a seasoned veteran of the aircraftindustry having directed the operations of two Fixed Base Operations, stated, "Theacquisition of Weatherly by MP2 sets the stage for the initiation ofmanufacturing of new aircraft, the selling of parts for the plane, and the expansionfunding for the operations of the company." He further stated, "We have pendingorders that need to be filled immediately and more orders that we expect toreceive in the near future."

Weatherly believes that the market for the Weatherly aircraft is largerinternationally than it is in the U.S. Orders have already been received fromcountries in the Middle East and South America.Weatherly believes it can ramp up manufacturing to a level of one plane perweek within the next 6 months to meet this demand for the aircraft and expectsto have the capacity to produce approximately 50 aircraft in the next year.

Patrick Thomas, President of MP2, stated, "We see an enormous opportunityin  Weatherly Aircraft as it is seen asthe "gold standard" in this market. It also has a strong and loyal base ofusers who we hope will immediately begin buying parts and new planes fromWeatherly as soon as they are available. He added, "This is the first of whatwe hope to be several acquisitions over the next 2 years that support theWeatherly aircraft market." 

About Weatherly Aircraft Nevada,Inc.

Weatherly Aircraft Nevada, Inc. designs, manufactures andsells cost efficient, safe and reliable aerial application aircraft foragricultural, chemical and fire fighting applications. The Weatherly aircraftare based on an FAA issued "Type Certificate" for which the Company has thelicensing rights. The current fleet size of Weatherly aircraft in service on aworld wide basis is in excess of 200 units. The Company intends to open its newUScustomer support center by February, 2009 which will supply spare parts andtechnical support to existing customers. It is anticipated that newly builtaircraft will be ready for delivery to customers in June of 2009.

For more information about MP2 and Weatherly go to www.mp2technologies.com .

 

Safe Harbor Act Disclaimer:  Forward-lookingstatements in this release are made pursuant to the Safe Harbor Provisions ofthe Private Securities Litigation Reform Act of 1995.  Theseforward-looking statements are subject to certain risks, and uncertainties andactual results could differ from those discussed.  This material isinformation only and is not an offer or solicitation to buy or sell the securities.