SOURCE: Utilicraft Aerospace Industries, Inc.

June 14, 2007 14:21 ET

Metalcraft Technologies Renews Initial Production of Utilicraft FF-1080 Prototype Aircraft

CEDAR CITY, UT--(Marketwire - June 14, 2007) - Metalcraft Technologies, Inc. (MTI) announced today its renewed contractor activities with Utilicraft Aerospace Industries, Inc. (OTCBB: UITA) for the commencement of initial manufacturing of the FF-1080 prototype aircraft.

MTI has been working closely over the past several months with Utilicraft Aerospace to develop the final requirements for both the production and assembly tooling designs required to build the first Utilicraft prototype aircraft.

"Our plans are in place and the raw material required to begin the manufacturing of the tooling has been placed on order," said Chuck Taylor, MTI Vice President. "We will begin the manufacturing process once the raw material arrives," Taylor added.

MTI will use "soft" tooling for production and assembly of the FF-1080 prototype to the extent practical in order to expedite the delivery and reduce the initial cost of the aircraft.

Throughout the production and assembly of the Utilicraft prototype, state-of-the-art Laser Tracking technology will be used to ensure conformance to the engineering design specifications that have been developed by Utilicraft Aerospace.

MTI's production plan calls for the fabrication of the major assembly tools concurrent with the development of the tools required to manufacture the detail parts for the FF-1080 prototype, and intends to initiate production of details as tooling is completed and as engineering is released from Utilicraft engineers on a scheduled basis to meet Utilicraft's planned completion schedule of the aircraft later this year.

About Metalcraft Technologies, Inc.

MTI is a vertically integrated manufacturer of aircraft details and assemblies. MTI is capable of taking design models in CAD/CAM format; planning the production of details, and developing such drawings from the models as are required for production; fabricating and processing the details to completion; and then assembling the details into complete assemblies. MTI operates under an AS-9100 registered quality system which ensures traceability of details, subassemblies, and finished assemblies back to the requirements defined in the acquisition documentation. (Website: www.metalcraft.net)

About Utilicraft Aerospace Industries, Inc.:

Utilicraft Aerospace Industries, Inc. was formed to implement a system solution to the current problem of declining capacity in the short haul (or feeder) route segments of the air cargo and overnight express companies.

The FF-1080 Freight Feeder aircraft is a new air vehicle which is the result of Utilicraft's extensive research and development. The FF-1080 is revolutionary because of its capability to carry standard industry air containers on short-to-medium range/medium density routes combined with the aircraft's integrated air cargo information system for the freight feed market.

The FF-1080 is an all aluminum twin-engine, high-wing, un-pressurized, fixed gear, single pilot capable, turboprop aircraft, specifically designed as a utility air freight transport system. The aircraft satisfies an industry recognized need to cost effectively feed containerized air cargo to the major hubs of the scheduled passenger carriers and the overnight express airlines.

The aircraft is also designed for short take-off and landing (STOL) capability. This feature makes the FF-1080 the only short-haul, heavy-lift containerized feeder aircraft capable of cost-effectively transporting ten revenue tons over two thousand nautical miles from airfields with less than 3,500 feet of runway, expanding air cargo capacity to many smaller cities and airports worldwide. (website: www.utilicraft.com)

Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release involve risks and uncertainties and reflect the company's current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business.

For more information about the Company, please visit www.utilicraft.com.

Contact Information

  • For Investor Relations contact:
    Mercantile Ascendency
    Tom Collins
    (214) 461 3500
    tcollins@mercantileascendency.com

    For Utilicraft Aerospace Industries, Inc. Product Information contact:
    Scott Jacox
    VP Marketing
    Utilicraft Aerospace Industries Inc.
    (866) 843-1348
    info@utilicraft.com

    For Metalcraft Technologies Information contact:
    Chuck Taylor
    Vice President
    Metalcraft Technologies, Inc.
    Office - 435-586-3871
    Cell - 435-590-4295
    chuck.taylor@metalcraft.net