NBAA, New Orleans, LA. - October 10, 2000-The Century Aerospace principals are pleased to announce that they are closing negotiations for the acquisition of a leading aerospace manufacturing and assembly facility in the southeastern United States. With 250,000 square feet of manufacturing and processing space, the facility is a major manufacturer of aerostructures for the worldwide aviation industry.
Bill Northrup, CEO of Century Aerospace, states, “We will move our headquarters for Century to this facility by early 2001 and we will take advantage of the world-class infrastructure as we continue the development of the CA-100 business jet. Century will manufacture selected parts as well as accomplish the final assembly of the CA-100 in this location.”
Century is also announcing that Taiwan General Aviation Consortium (TGAC) will be a major risk-sharing partner for the Century Jet. The TGAC includes over 20 companies that provide aeronautical manufacturing and technical services. This risk-sharing partnership completes Century’s technical team. The Taiwanese team of structures, systems, avionics and manufacturing engineers will join the Century team by the end of this month to initiate the detailed design of the CA-100 jet.
Century is pleased to announce the company’s financing accomplishments. Paul Bandrowski, founder and Chairman of @visory, has closed Century’s “B round” over the past few months. In addition to @visory, Century has signed an agreement with Wall Street Capital to complete the “C round,” which will take the CA-100 jet to delivery of the major airframe structures. The CEO of Wall Street Capital, Charles Kusche, says, “We are excited about the interest that has been developed in the entry-level business jet market, and look forward to helping Century fulfill their objectives.”