Contact: Tom
Bowen
541.923.2244 -
X136
tbowen@lancair.com
Lancair
Looks to the Future With New Financial
Strength,
And
New Management Team
Company Will
Re-Double Focus On Customer Service and
New
World-class Evolution Turboprop
Redmond OR;
7.6.10- Mr. Gene
Wolstenholme, new majority owner and Chairman of
LCTIILancair
International, today announced
the injection of new operating capital and a new
management
team at aircraft manufacturer
Lancair International. "We are focused on the future,"
said
Wolstenholme, "We have a
world-class product in our 320 knot, $1.2 million Evolution
owner-built
aircraft. With five
Evolutions
flying, and 24 customer orders,
we're off to a great start and we are
going to push though this
down-economy and get our incredible airplane to
market."
In announcing the new ownership,
Mr. Wolstenholme also announced new company
leadership.
Mr. Wolstenholme will be
LCTl/Lancair International Chairman, and Robert Wolstenholme
was
named President & CEO of
LCTl/Lancair International. "I have been associated with
Lancair
aircraft since 1990. Flying is,
and has always been my passion and this new direction is
a
chance to bring our proven
management skills together with Lancair's high
performance
products with a focus on
customer satisfaction."
Bob Wolstenholme comes from an
extensive background in manufacturing.
Wolstenholme
Machine located in Colmar, PA, specializes
in precision parts for the medical, aerospace,
and
telecommunication industries.
Subsidiary WMrobots designs and builds robots for
bomb
disposal and mine detectors for
the US and Canadian markets. Bob built
and flies his own
award winning Lancair IVP. As
President & CEO, Bob Wolstenholme will oversee all business
&
management functions of
LCTl/Lancair International.
Tom Bowen, whose General
Aviation management and engineering experience spans
3
decades, will continue to head
company operations management and is the
principal
spokesman for the company. He
said, "This is a real win for general aviation and
Lancair
customers. But it is an even a
bigger win for Lancair employees, their families, and
the
communities of Redmond and Bend, Oregon. It is no secret that the Central Oregon area
continues to suffer through
double digit unemployment, and this once vibrant
aerospace
manufacturing center has also
suffered with the failures of Epic and Columbia. I am
determined
to do everything I can to
maintain Lancair as a world-class company and to grow it into
the
future as we continue to design,
build and service premium aircraft."
Joe Bartels, CEO of LCTl/Lancair
International, since 2003, resigned as President and
CEO
according to the terms of a June
7, 2010, investment agreement, and will remain a
minority
percentage owner of LCTl/Lancair
International. "Joe did a great job overseeing
development
the Evolution
aircraft," said Bob
Wolstenholme, "and we now need to move ahead and expand
the
manufacturing infrastructure and
training programs to support the Evolution
product
line.
Lancair
International is an Oregon Corporation and a leader in
composite technology and aircraft design.
Lancair
International
actively marlfets the advanced, 4-place Evolution, and the 2-place retractable
and fixed-gear Legacy
aircraft and
supports a
host
of
high-performance
Lancair International kit aircraft models.
**'