Weatherly Aircraft - IRVING, TX -- MP2 Technologies, Inc. announces the completion of a definitive agreement to acquire 100 percent of Weatherly Aircraft Nevada Inc. Weatherly holds an exclusive license to develop the Weatherly aircraft, a single engine aerial plane used in a variety of areas, including crop dusting, seeding, spreading of pesticides, and fire fighting. Weatherly acquired the license to build the aircraft from its original developer in November of 2008. At present there are approximately 200 Weatherly aircraft in use on a global basis.
Weatherly believes that the market for the Weatherly aircraft is larger internationally than it is in the U.S. Orders have already been received from countries in the Middle East and South America. Weatherly believes it can ramp up manufacturing to a level of one plane per week within the next six months to meet this demand for the aircraft and expects to have the capacity to produce approximately 50 aircraft in the next year.
Weatherly Aircraft
"The acquisition of Weatherly by MP2 sets the stage for the initiation of manufacturing of new aircraft, the selling of parts for the plane, and the expansion funding for the operations of the company," says Jeff Magnus, COO of Weatherly. "We have pending orders that need to be filled immediately and more orders that we expect to receive in the near future."
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"We see an enormous opportunity in Weatherly Aircraft as it is seen as the 'gold standard' in this market," says Patrick Thomas, President of MP2. "It also has a strong and loyal base of users who we hope will immediately begin buying parts and new planes from Weatherly as soon as they are available. This is the first of what we hope to be several acquisitions over the next two years that support the Weatherly aircraft market."
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