OKLAHOMA CITY, March 27 /PRNewswire/ -- Quartz Mountain Aerospace, Inc., based in Altus, OK, announced that it is showcasing the Federal Aviation Administration Type Certified model of a $200,000, four-seat, high-winged Model 11E single-engine airplane today at the Wiley Post Airport in Oklahoma City. (Photo: http://www.newscom.com/cgi-bin/prnh/20060327/NYM169 ) The company, formerly known as Luscombe Aircraft Corp., explained that the Model 11E, which will be used primarily as a trainer, is an adaptation of the Luscombe Model 11A, introduced in 1946. The new model is distinguished by superior in-flight and landing stability. The company said that it already has commitments for its first few years of planned production of Model 11E. It is planning to produce about 68 aircraft during the 12 months beginning in September, ramping up to 250 aircraft, or about $50 million in sales for the 12 months starting in September 2007, and 300 aircraft and sales of $60 million during the following 12 months. John S. Daniel, Quartz Mountain's president and chief operating officer, said, "Our ability to start manufacturing and to amass the financial resources we need to ramp up production over the next few years has and will continue to require substantial financial resources." The Oklahoma Department of Career and Technology Education ("Career Tech") is a state-funded agency that provides employment training, among other objectives. Through its Southwest Technology Center (SWTC) in Altus, they are providing specialized and customized training for those in the Southwest Oklahoma. SWTC is collaborating with Quartz Mountain Aerospace (QMA) to customize curricula for the various trades associated with the Model 11E. SWTC's first class of trained students are now employed at QMA. They have a second class scheduled for graduation in May of 2006. For convenience and hands-on instruction the SWTC school is conducted in a facility adjacent to the QMA manufacturing facility. "As those in the aircraft industry know," Daniel added, "getting a new plane certified is a major feat. The confidence and support of Oklahoma has gotten us this far, and we expect to repay this support with a boost to the rural areas of the state by adding jobs and stimulating their economy." "Based on present sales commitments," said Daniel, a former top production executive of Cessna Aircraft, and acknowledged leader in single-engine aircraft manufacturing, "We are anticipating a 20% annual sales growth after our second year of production, so that by year four of production, beginning September 2009, we would be manufacturing up 360 aircraft in a 12-month period, which translates into approximately $72 million in sales." Daniel said that Quartz Mountain Aerospace has purchase commitments from Global Aviation Partners, which represents more than 100 flight schools throughout the country. Col. Geno Redman (USAF, ret.), head of economic development for area, said that 300 aircraft per year would add about 300 new jobs at the company itself. In addition, another 100 plus jobs will be created at the company's manufacturing suppliers in Alva, Ardmore, Tulsa, Oklahoma City and other Oklahoma-based companies. Quartz Mountain Aerospace is headquartered at Altus, in Jackson County, which lost 2.15 percent of its population between 2004 and 2005. Only one county in the nation suffered a larger loss. Col. Redman also noted that while Quartz Mountain Aerospace is a good start, southwest Oklahoma must continue to work on a number of upcoming projects that utilize the resources of the area in an effort to stabilize the economic and population base of the region. Currently, Col. Redman is working with Quartz Mountain Aerospace to identify and relocate a second light aircraft company that needs production capacity to the Altus area in an attempt to double the work force to 600. Other projects include a recently announced joint use facility with the Altus Air Force Base. Based on aircraft manufacturing industry salaries, the initial 400 jobs are equal to an annual payroll of about $17 million. About the 185 Horsepower Model 11E The Model 11E is a four-place, single-engine, fuel-injected, tricycle- gear, all-metal aircraft, with superb performance and handling characteristics, and a spacious utility interior. New nose wheel steering aids the sturdiness of the craft and helps pilots establish a level of ground directional control that no other aircraft in its class can achieve. The climb rate is 876 feet-per-minute. Normal cruise rate is 133 mph. The plane has a range of 575 miles with fuel capacity of 40 gallons. The fuel-injected engine produces 185 hp at only 2450 RPM consuming a mere 7.4 gallons per hour. The model is extremely sturdy. Media Contact: Richard Stern John S. Daniel Stern & Co. Quartz Mountain Aerospace 212/888-0044 580/477-3355 firstname.lastname@example.org email@example.com
SOURCE Quartz Mountain Aerospace, Inc.