MTI enjoys nice win with Embraer
25 August 2008
Given the long lead times in the aircraft production industry, one always has to know what you’ll be doing a few years from now if you want to prosper in that game. Thanks to Embraer, Wellington Financial Fund III portfolio co. MTI Global (MTI:TSX) now knows that it’ll be busy producing $20 million of business for them on the Legacy 450 and Legacy 500 executive business jets.
This from the Canadian Press wire service:
MISSISSAUGA, Ont. — Brazilian plane maker Embraer selected MTI Global Inc. to supply thermal and acoustic insulation materials to the Legacy 450 and Legacy 500 aircraft.
MTI estimated the value of these contracts would exceed $20-million.
The Mississauga, Ont., company said Monday that its PolyFab aerospace division has been working with Embraer on the development of the two business jets.
“MTI-PolyFab continues to strengthen and diversify its market position in the growing business jet market,” said MTI president and CEO Bill Neill said in a statement.
“We have established a strong long-term working relationship with Embraer over the past eight years and look to continued collaboration for many years to come.”
Congrats to the MTI team.
AO
(disclosure – our Fund III was warrants in MTI)
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