Cites Future Growth, Enhanced Customer Service, Focus On Evolution Turboprop

The new majority owner and Chairman of LCTI/Lancair International announced the injection of new operating capital and a new management team at aircraft manufacturer Lancair International last week. "We are focused on the future," said  Mr. Gene Wolstenholme. "We have a world-class product in our 320 knot, $1.2 million Evolution owner-built aircraft.  With five aircraft flying, and 24 customer orders, we're off to a great start and we are going to focus on pushing through this down-economy and getting our incredible airplane to market."

Lancair Evolution File Photo

In announcing the new ownership, Mr. Wolstenholme also announced new company leadership. Mr. Wolstenholme will be LCTI/Lancair International Chairman, and Robert Wolstenholme was named President  & CEO of LCTI/Lancair International. "I have been associated with Lancair aircraft since 1990. Flying is, and has always been my passion and this new partnership is a chance to bring our proven management skills together with Lancair's high performance products with a focus on customer satisfaction."

Bob comes from an extensive background in manufacturing. Wolstenholme Machine located in Colmar, PA, specializes in precision parts for the medical, aerospace, and telecommunication industries. Subsidiary WMrobots designs and builds robots for bomb disposal and mine detectors for the US and Canadian markets. Bob built and flies his own award winning Lancair IVP. As President & CEO, Bob Wolstenholme will oversee all business & management functions of LCTI/Lancair International.

Tom Bowen, whose General Aviation management and engineering experience spans 3 decades, will continue to head company operations management and is the principal spokesman for the company. He said, "This is a real win for general aviation and Lancair customers. But it is an even a bigger win for Lancair employees, their families, and the communities of Redmond and Bend, Oregon.  It is no secret that the Central Oregon area continues to suffer through double digit unemployment, and this once vibrant aerospace manufacturing center has also suffered with the failures of Epic and Columbia.  I am determined to do everything I can to maintain Lancair as a world-class company and to grow it into the future as we continue to design, build and service premium aircraft."

Joe Bartels, CEO of LCTI/Lancair International, since 2003, resigned as President and CEO according to the terms of a June 7, 2010, investment agreement, and will remain a minority percentage owner of LCTI/Lancair International. "Joe did a great job overseeing development of the Evolution aircraft," said Bob Wolstenholme, "and we now need to move ahead and expand the manufacturing infrastructure and training programs to support the Evolution product line."

FMI: www.lancair.com