CHICAGO, March 9 /PRNewswire/ -- Global HeavyLift Holdings, LLC (GHH), a Florida-based Defense Logistics Agency listed air cargo strategic solutions entity, today clarified certain statements contained in its press release of March 3, 2007 regarding its plan to acquire Boeing C-17 Globemaster III aircraft for commercial applications. GHH's press release referred to a letter of intent received from Oppenheimer & Co., Inc. with respect to raising capital for GHH's planned aircraft acquisitions. The letter received by GHH was an indication by Oppenheimer of an interest in participating in the creation of a proposed consortium/syndicate, consisting of other investment institutions already approached, to provide capital for GHH's planned aircraft purchases through a simultaneous equity raise in the U.S., Europe and Asia. This approach taps into the vast private equity resources existing globally, thus increasing the probability of success. Consistent with industry practice, any such commitment would be issued by Oppenheimer or other capital sources only after requisite due diligence had been performed, and all necessary approvals had been obtained. Therefore, at this time Oppenheimer has not committed to finance, or arrange or secure financing for, the planned aircraft purchases. Of course, this is a raise, not financing. GHH Managing Member Myron Stokes notes, "This is a clarifying statement that is to be viewed as standard practice regarding any public release of this nature concerning financial transactions real or proposed." About Global HeavyLift Holdings, LLC GHH is a strategic air transport solutions entity that was born of a multi-year public/private effort among forward thinkers in both the private sector and government to mitigate emerging and observable vulnerabilities in the U.S. industrial base global supply chain. Such vulnerabilities are represented by the fact that no ocean-borne shipping is in U.S. hands at present, thus potentially subjecting American corporations, especially automotive, and their global operations to the whims and perhaps economically hostile activities of and by foreign governments. Add to this the risk of terrorist activities, which have, according to the Department of Homeland Security, targeted maritime operations; i.e., ships, ports and ocean containers. Defense Logistics Agency (DLA) listed, ( http://www.ccr.gov ) it is the goal of GHH and its strategic partners around the planet to work with key logistics personnel within these corporations and government agencies to conceptualize, craft and structure long-term global supply chain alternative transportation methodologies through continuous -- not stop gap or emergency - - air augmentation solutions. Its most important mission, however, has been in the co-development of global architecture for infrastructure of a new American controlled industry, Heavylift, utilizing the excellent airlift performance characteristics of the Boeing C-17.
SOURCE Global HeavyLift Holdings, LLC