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."