That Buys African Customer for 20 Ag Aircraft

Weatherly Aircraft Company, a manufacturer of planes for agricultural spraying and fire fighting applications since 1961, says it's inked a deal worth $6.1 million with Golden Fly Company Limited, a Gibraltar company, to build and deliver 20 ag aircraft within the near term.

The contract agreement includes the ag aircraft, parts, maintenance, and warranties, as well as flight and maintenance training. Included in the contract agreement are progress payments, the first of which has been received by Weatherly.

Golden Fly is the purchasing agent and representative for an agricultural consortium in North Africa, which is the customer for the ag aircraft and support services. The contract negotiations were facilitated by First Law International (FLI), an international law firm based in Brussels, whose client Golden Fly authorized FLI to negotiate the successful contract. The Weatherly aircraft will service a variety of different agricultural regions, with day and night as well as agricultural spraying and fire-fighting capabilities.

"We are pleased to be awarded this contract to build and deliver 20 ag aircraft and services for Golden Fly," Gary Beck, President and CEO of Weatherly said. "We appreciate the significance and importance of the contract to our customer, and we value the opportunity, and the trust placed in Weatherly, to contribute to the agricultural economy of the region. This contract represents an important milestone in the implementation of Weatherly's strategic plan for growth, and we look forward to a long and successful relationship with Golden Fly."

"Based on our extensive research for proposals and our due diligence process, we are pleased to conclude this contract with Weatherly Aircraft. The Weatherly ag aircraft are particularly well suited in price and performance to match the requirements of grain crop applications and insect control in the region," Armand Vercruysse, Executive of Golden Fly Limited, added. "Weatherly aircraft will contribute to the on-going regional development of agricultural self-sufficiency and trade, and help to stimulate additional progress for the benefit of the region's economy." 

"Weatherly is continuing to work on a number of requests for proposal," continued Beck. "This order, in addition to existing orders and backlog, should allow Weatherly to increase manufacturing and reach positive cash flow from operations. This contract provides the platform for Weatherly to execute and advance its near-term and longer-term growth plan, including raising additional capital and increasing the revenue and skilled employee base at its manufacturing facility at McClellan Park, adjacent to Sacramento. Weatherly plans to continue its participation in industry trade shows in the US, Canada, South America, and other regions as opportunities develop, as part of its strategic plan for growth."

FMI: www.weatherlyaircraft.com