SOURCE: MP2 Technologies, Inc.

MP2 Technologies, Inc.

February 23, 2009 09:30 ET

MP2 Subsidiary, Weatherly Aircraft NV, Announces Strategic Alliance With Tulsa Aircraft Engines

IRVING, TX--(Marketwire - February 23, 2009) - Weatherly Aircraft Nevada, Inc. ("Weatherly"), a wholly owned subsidiary of MP2 Technologies, Inc. ("MP2") (PINKSHEETS: MPTO), announced today a strategic alliance agreement with Tulsa Aircraft Engines. The agreement provides Weatherly with four engines for the Weatherly aircraft in return for stock in MP2 Technologies, Inc. Additionally, Tulsa Aircraft will assist Weatherly in the sale of planes and parts to their customers. The commitment by Tulsa Aircraft represents an investment of approximately $200,000 in Weatherly Aircraft and a solidification of Weatherly's relationship with its most critical supplier.

Weatherly stated that the commitment by Tulsa Aircraft reduces by 25% their "out of pocket costs" to build the first four aircraft and also signifies a major investment in Weatherly Aircraft by its most important supplier. Weatherly further stated that Tulsa Aircraft has committed to making major enhancements to their engines which will make the Weatherly aircraft one of the most fuel-efficient and cost-effective aircraft in its class to operate.

"We firmly believe that there is a tremendous market for the Weatherly aircraft and we are in full support of Weatherly's business strategy," stated Sam Thompson, President of Tulsa Aircraft Engines. "We are not only providing engines to Weatherly, but will be assisting Weatherly Aircraft wherever possible to sell both aircraft parts and new planes to our customer base."

Richard Corline, President of Weatherly Aircraft, stated, "This is an important milestone for the company as the agreement not only solidifies our relationship with our most important supplier, but also demonstrates their willingness to invest in our company as well as support us in the sales of both aircraft and parts."

About Weatherly Aircraft Nevada, Inc.

Weatherly Aircraft Nevada, Inc. designs, manufactures and sells cost efficient, safe and reliable aerial application aircraft for agricultural, chemical and fire fighting applications. The Weatherly aircraft are based on an FAA issued "Type Certificate" for which the Company has the licensing rights. The current fleet size of Weatherly aircraft in service on a worldwide basis is in excess of 200 units. The Company intends to open its new US customer support center by March 2009 and supply spare parts and technical support to existing customers. It is anticipated that newly built aircraft will be ready for delivery to customers in December of 2009. For more information about Weatherly Aircraft Nevada go to www.weatherlyair.com.

About MP2 Technologies, Inc.

MP2 Technologies, Inc. serves as a holding company for technology and service related businesses that can share common management resources and access to marketing channels. New acquisitions will be announced over time as opportunities that fit the company's acquisition profile become available. Acquired companies will benefit from MP2's public company expertise, executive management, and sales and marketing contacts throughout the world. More information on the company can be found at their website at www.mp2technologies.com.

Safe Harbor Act Disclaimer: Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.

Contact Information

  • Contact:
    Richard Corline
    951-763-4246