Company Clears Barrier To Building In Albuquerque

New Mexico may have another personal jet manufacturer setting up shop in-the-not-too-distant future. Englewood (CO)- based Aviation Technology Group (ATG) got preliminary approval last week for $15.25 million in funding from New Mexico's State Investment Council's Direct Investment Program. The council's Private Equity Advisory Committee unanimously gave the go-ahead to consider investing $6.25 million in the manufacturer, which plans to build a manufacturing plant in Albuquerque if the funding is approved. The full council voted Tuesday on whether or not to proceed with the funding but results of the meeting were not available by ANN's deadline. ATG is asking the state to provide half of a $12.5 million round o

GKN Aerospace May Be In The Market

According to a report in the Seattle Times, Raytheon Aircraft Co. is close to selling off its Wichita fabrication division to a British company called GKN. In the story, which was a next-day follow-up to another article on the possibility of Boeing selling its on Wichita plant, the Times says British aerospace supplier GKN Aerospace "is already close to a deal to buy Raytheon's fabrication division in Wichita." The newspaper cites an unnamed source identified only as an executive with a Wichita aerospace supplier with the sale of the Raytheon Aircraft unit. If true, this news is not entirely surprising, as Raytheon Aircraft officials have publicly stated in the past that the company plans to move to a business model in which i