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News Articles
Upbeat MDHI Celebrates Successes; Previews Strategies
MESA, AZ, Mar. 01, 2007 - Deliveries and orders are up, AOGs are down, and the mood in Mesa is decidedly positive as MD Helicopters, Inc. (MDHI, booth #3141), prepares to showcase the company and its products at Heli-Expo 2007, March 1-3 in Orlando, Fla. Company officials will host a press conference on March 2, 2007, to discuss MDHI's 2006 successes and business strategy for the year ahead, including:
- Delivery of 13 helicopters, more than the sum total of the previous two years.
- Dramatic 95 percent reduction in AOGs.
- Backlog approaching $330 million, including a long-term contract with a Middle Eastern customer.
- New capabilities, including fuselage fabrication (Monterrey, Mexico production facility) and completions (Heritage Aviation). Streamlined production lines.
- Growth, including 250 additional jobs.
- A solid management team that leverages the strengths of both helicopter industry veterans and proven performers from outside the industry.
- Added six new authorized service centers.
"We have a plan for growth that is working, stated " President Chuck Vehlow, "and a strong leadership team with clear priorities, goals and accountability." In 2007, the company's focus will include:
- Continued increases in deliveries (48) and reductions in AOGs.
- Supply chain integration and improved contractual terms from suppliers.
- Leverage strengths of Monterrey facility as a Manufacturing Center of Excellence.
- Improved cash flow and financial performance.
- Partnering for growth.
"We intend to develop long-term partnerships with an elite group of suppliers," said Vehlow. "Our focus is to move forward in partnership, ultimately delivering 150 helicopters a year while providing world-class support to our installed base of 3,000 helicopters."
The MDHI exhibit in Orlando will showcase an MD 520N and an MD Explorer. In addition, the company will be providing demonstration flights in an MD Explorer, MD 600N, and MD 520N.
Based in Mesa, Ariz., MDHI manufactures and sells a line of high-performance light twin- and single-engine helicopters, including the MD Explorer, MD 600N, MD 520N, MD 530F and MD 500E. The company also produces armed versions of its entire product line.
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About MD Helicopters:
MD Helicopters is a leading manufacturer of commercial and military helicopters. The MDHI family of rotorcraft is world renowned for their value, versatility and performance. The MD Helicopters family includes the twin-engine MD Explorer®, and single engine versions of the MD 600N®, MD 520N®, MD 500E® and MD 530F®. The NOTAR® system for anti-torque control is the exclusive property of MD Helicopters. The Company is based in Mesa, Arizona.
About Patriarch Partners, LLC
Patriarch Partners, LLC is an investment firm in New York and Charlotte, North Carolina which together with its affiliates, provides portfolio management services and serves as investment advisor to multiple leveraged funds and a private equity fund. Founded in 2000 by Lynn Tilton, Patriarch provides innovative financial solutions, strategic direction and operational expertise to companies undergoing periods of pervasive change. Patriarch currently monitors credit facilities in respect to approximately $5 billion dollars of assets under its management, including equity positions (majority and minority) in more than 65 companies. Lynn Tilton serves as Chairman of the Board of MDHI. Funds managed by Patriarch Partners own a majority and controlling interest in MDHI.
Contact MD Helicopters, Inc.
Debbie Jones
(480) 346-6474
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