Cirrus officials shopping for investors
Cirrus Aircraft President and CEO Brent Wouters says the company is looking for investors to finish the Vision SF50. Wouters said he had expressed a need for extra funding prior to 2002 when he became president.
The only change in that situation is that international visitors continue to visit and explore the possibility of investment, but now the local press has noticed. It is an ongoing process that is expected to continue for some time, Wouters said.
It will take $60 million to $80 million to complete the jet and build the tooling, but only $30 million to $50 million is needed from an investor, Wouters said. An Atlanta firm where Wouters has previous contacts is handling the search. Wouters declined to identify countries with interested investors.
Wouters said Cirrus has done the right things and is weathering the economic downturn well, but will continue to take whatever actions become necessary. “Every day, every week, is still a battle,” Wouters said. “We are doing the right things and will continue to hunker down.”
September 16, 2010