American Utilicraft Corporation And TSAY Corporation of San Juan Pueblo, New Mexico, Enter Into Memorandum of Understanding.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Feb. 18, 2004 Today American Utilicraft Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AMUC AMUC Acta Mathematica Universitatis Comenianae ), and The TSAY Corporation, announced that last week on February 13, The TSAY Corporation entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ) with American Utilicraft Corporation for an equity investment of $11 million by the San Juan San Juan, city, Argentina San Juan (săn wän, Span. sän hwän), city (1991 pop. 353,476), capital of San Juan prov., W Argentina. It is a commercial and industrial center in an agricultural region. Pueblo, for the purpose of developing aircraft manufacturing jobs for the Espanola Valley Community. The funds are slated to be used to construct an 80,000 sq. ft. final assembly building for American Utilicraft on the San Juan Pueblo Airport located just north of Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. , in the town of Espanola. Details of the MOU will be released when final negotiations and agreements are completed during the next 60 days. The State of New Mexico Economic Development Department and the New Mexico Economic Development Partnership first met American Utilicraft Corporation officials last October and encouraged them to look at New Mexico as a location for their venture of manufacturing the company's FF-1080 Freight Feeder Aircraft. About American Utilicraft Corporation American Utilicraft Corporation was formed in 1990, to target the significant problem of addressing the overnight express, just-in-time supply chain, e-commerce, and global third party logistics entities inability to provide effective "containerized con·tain·er·ize v.tr. con·tain·er·ized, con·tain·er·iz·ing, con·tain·er·iz·es 1. To package (cargo) in large standardized containers for efficient shipping and handling. 2. " fulfillment and distribution in the short haul (or feeder) route segments of air cargo. The result of the Company's research and development is a new air vehicle, the FF-1080 Freight Feeder aircraft, capable of carrying standard industry air containers on short-to-medium range/medium density routes, and an integrated air cargo information system for the freight feeder market. For more information visit the Company's website at www.utilicraft.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements in this press release involve risks and uncertainties and reflect American Utilicraft Corporation's (the company) current views with respect to possible future events. Readers are cautioned that no forward-looking statement can be guaranteed and actual results or events may materially differ from those projected or anticipated. In particular, the following factors, among others, could cause actual results or events to differ materially from those described in the forward-looking statements: the company's ability to obtain and fulfill contracts for the sale of products, protect intellectual property rights and manage future growth; market acceptance of future products; product supplier delays; design and engineering certification delays or denials; and the introduction of similar products by competitors. Any forward-looking statement made in this press release is made as of the date of this press release, and the company assumes no obligation to update any such forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect the company's business. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion