SOURCE: MP2 Technologies

June 17, 2009 09:00 ET

MP2 Technologies' Subsidiary, Weatherly Aircraft, Selects Agro Importer, CA Exclusive Distributor for Venezuela

IRVING, TX--(Marketwire - June 17, 2009) - MP2 Technologies (MP2) (PINKSHEETS: MPTO) announced today that its wholly owned subsidiary, Weatherly Aircraft Nevada, has reached an agreement with Agro Importer, CA to be its exclusive distributor for Venezuela. Agro, based in Caracas, is currently working with the Department of Agriculture of Venezuela for the supply of 15 new crop duster planes and Weatherly is a strong contender for this contract. Agro also has other private Agricultural Operators who have expressed a strong interest in the new Weatherly fuel injected radial engine model 620B.

Richard Corline, Weatherly's CEO, stated, "This is another milestone in implementing our international sales plan and we are delighted to have found such a strong partner. The cost advantage to our new customers in adopting the new fuel injected radial (piston) engine is considerable. In addition, the Weatherly allows for the use of alternative fuels such as ethanol which reduce operating costs and is better for the environment."

In an unrelated matter, the Company announced that it is working closely with the FAA to complete compliance for its new manufacturing operations in Bogalusa, LA. Following an on-site meeting with the FAA last week, Weatherly agreed to take certain remedial actions to reach total compliance prior to commencing full production.

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 world wide 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, Inc., go to www.weatherlyair.com.

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 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
    985-735-9339
    Email: Email Contact

    Investor Relations Contact:
    The Eversull Group, Inc.
    Jack Eversull
    972-378-7917
    972-378-7981 (fax)
    Email Contact