BSNS WIRE) Mooney Board of Directors Approves New Three-Year Business Plan
Mooney Board of Directors Approves New Three-Year Business Plan
[Custom Writers] / Business Editors
KERRVILLE, Texas--(BUSINESS WIRE)--MASG--
The board of directors of Mooney Airplane Company, a
wholly owned subsidiary of Mooney Aerospace Group Ltd. (OTCBB:MASG)
recently announced its approval of a new three-year business plan. The
plan outlines the steps necessary to not only increase sales, but to
offer a greater customer support experience to the more than 8,000
Mooney owners worldwide.
"After more than 50 years in the business, we are proud to say
that our board stands firm in their belief in the Mooney brand," said
Tom Gray, managing director of Mooney Airplane Company. "This business
plan outlines our goal to stay true to the values of the Mooney name
by delivering the safest, highest quality, highest value aircraft
available today."
The plan calls for Mooney to sell more than 70 airplanes in 2004,
more than twice its 2003 volume. It also calls for new product
features, wider sales presence, additional employees and improvements
in production over the next three years.
The plan was approved by the board of directors during a meeting
in New York on May 3. In the following two days, the plan was
presented to Mooney employees in Kerrville, as well as to members of
two Mooney organizations -- Mooney Aircraft Pilots Association (MAPA)
and Mooney Owners Association (MOA).
"It was very important for us to get all of our team members on
board to support this exciting new period for Mooney," Gray said. "The
plan was met with overwhelming support. Now we begin the exciting task
of implementing this plan and enhancing our value to the Mooney
customer."
Mooney Aerospace Group Ltd. is a general aviation holding company
that owns Mooney Airplane Co., located in Kerrville, Texas. Mooney
currently sells four models; the highest performing four-place single
engine piston powered aircraft, the Bravo DX and GX and the highly
rated Ovation2 DX and GX. Mooney is celebrating its 51st Anniversary
in Kerrville, Texas, where it has manufactured more than 10,000
aircraft that have been delivered worldwide. Complete information
about Mooney aircraft is available at www.Mooney.com.
This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995 (the
"Act"). In particular, when used in the preceding discussion, the
words "plan," "confidant that," "believe," "scheduled, ""expect," or
"intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act and
are subject to the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results could
differ materially from those expressed in any of the forward-looking
statements. Such risks and uncertainties include, but are not limited
to, market conditions, the availability of components and successful
production of the company's products, general acceptance of the
company's products and technologies, competitive factors, timing and
other risks described in the company's SEC reports and filings.
KEYWORD: TEXAS
INDUSTRY KEYWORD: BANKING AEROSPACE/DEFENSE TRANSPORTATION TRANSPORTATION AIRLIN
S
SOURCE: Mooney Airplane Company
CONTACT INFORMATION:
Mooney Airplane Company, Kerrville
J. Nelson Happy, 830-792-2917
nhappy@mooney.com
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