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Mon, Jan 27, 2003

Lancair 'Officially' Closes Investment Deal

Woohoo! Here Come The Funds!

ANN told you it was in the works. Now, Lancair has put the finishing touches on a million dollar funding, allowing the company to continue ramping up production to meet 173 outstanding orders for its Columbia certified high performance aircraft.

New Lancair Board members, representing Composite Technology Research Malaysia (CTRM), Lancair’s original investor, were at the Lancair production facility this month to review the ramp-up.

All The Pieces Are Starting To Come Together

Lancair President Bing Lantis said, “These meetings put the final elements of a solid financial foundation in place. Our every effort is now directed at the re-start of manufacturing and delivery of the Columbia aircraft in all its configurations and options. We will steadily increase production to and beyond a rate of one aircraft per day.”

CTRM CEO Malek Packeer said, “To help expedite the production ramp-up, CTRM will begin planning for the manufacture of selected air-frame components for the Lancair Columbia aircraft at their advanced manufacturing facility.”

FMI: www.lancair.com/certified/index.html

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