Sat, Dec 13, 2003
OMF Promises Continued Support For Symphony Line Through
Financial Crunch
Canadian-based OMF Aircraft is
reinventing itself after the bankruptcy of its German parent
corporation, OMF GmbH. OMF Aircraft is in the process of
securing new financing as it moves toward becoming an independent
company that designs, manufactures, markets and supports the
Symphony line of aircraft.
"The management team at OMF Aircraft is working hard to complete
the details of our corporate restructuring, and to minimize the
impact of OMF GmbH's bankruptcy on Symphony aircraft," said OMF
Aircraft President Paul Costanzo. "The situation is rapidly
evolving."
OMF Aircraft is applying to Transport Canada to reissue the
Symphony 160's Type Certificate. The company will also be required
to assume responsibility for the continuing airworthiness of the
product line. OMF Aircraft expects to obtain a Production
Certificate in the second quarter of 2004. At the same time, the
company will be ramping up its production capacity in anticipation
of aircraft deliveries in the third quarter of 2004.
The company says field support for
its Symphony 160s is a high priority for the company. Symphony 135D
and Symphony 250 - The development of these aircraft will be
delayed, probably by about six months. Much of that time will be
spent putting together a design and engineering team in Quebec,
which has one of the world's largest pools of aerospace talent.
"The Symphony 135D and Symphony 250 are essential elements of the
future of OMF Aircraft," said Costanzo. "The company is eager to
put together the team so these projects can continue to move
forward."
The management team at OMF Aircraft says it's confident the
company can move through this difficult transition period and into
a strong and prosperous future. Most of the building blocks
necessary for the ongoing success of OMF Aircraft are in place.
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