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MISTRAL IS BACK IN BUSINESS
March 1, 2011, Mistral resumed his activities, albeit in a modest, but sufficient way to consolidate gains and prepare the ground for a full resumption of operations. A first group of key engineers, all former Mistral employees, are back to work. The FAA certification of Mistrals G300 engine has resumed and shall be completed by next year.
The company would like to thank all those who expressed their support and encouragement during this chapter 11 period. The market appreciation we received and the global interest for Mistrals technology greatly helped cheering up the Boards morale. Mr Claude Geles, President of Mistral, said We dont give up easily and we dont take no for an answer. There would be a way to get Mistral back in business, it just took us some time to find it.
Mistrals rescue has been made possible thanks to Mr Robert Herrmann, a business man and a private pilot, who read once an article about the company and decided something had to be done. Everyone in the industry understands the benefits of Mistrals technology. I found the risk/reward ratio quite favorable and decided to bring this financial spark that would start the venture again., said Mr Herrmann.
As soon as adequate financing will be secured, Mistral will also resume the development of the Kerosene version which is strongly expected by the market.
