Arowcopter - Financial restructure ?

Steve_UK

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Hmm ?

Some financial challenges for Arowcopter being report on an Austrian aviation website.

original here in German

http://www.austrianaviation.net/news-regional/news-detail/datum/2015/08/11/oesterreichischer-gyrocopter-hersteller-insolvent.html



Google Translates as - excuse errors

At the Landesgericht St. Pölten a restructuring process began with self-administration on the FD-Composites GmbH in Lower Austria Zeillern on Tuesday. The company is best known for the development and production of Gyrocopters "Aero Copter".

This affects a total of 11 employees and 70 creditors. According to the Credit Protection Association of 1870 (KSV) are in FD-Composites against assets of 146,000 euro liabilities in the amount of 2.86 million euros. As insolvency causes high development costs, lack of distribution channels and low sales figures are known.

The company offers the creditors at a rate of thirty percent, which corresponds to the minimum statutory statement of intent. The recovery plan is to be generated one-third with the help of partner Gyrocaft Holding AG, as well as two thirds of own resources of the company, according to KSV. It is intended to continue the company with seven employees.

The Arrow Copter is a two-seater gyroplanes with a Rotax engine, which was developed in six years. He can move at a speed of 30 to 180 km / h takes only a short take-off and landing distance.



Hopefully the company and product will continue.
 

magknight

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Long time coming. Gyro development and building is an expensive low / long return investment. You do it for the love of gyros, not for the financial return. People don't often understand that the cost of a production gyro isn't just in the materials, but the whole operation (people, facilities, R&D, licensing, taxes, insurance, etc). It takes an enormous amount of capital to get a gyro manufacturer off the ground (pun intended).

ArrowCopter will continue and will be better for it. Look for formal announcements shortly. A lot of positive changes have already taken place, more to come.
 

Steve_UK

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All new news news always welcomed - ideally better to hear news from the company as a PR Release rather than an aviation magazine to print the news while the company is on holiday.

""Dear customer, partner and friends of ArrowCopter!

We just want to let you know that our headquarter in Austria has a company holiday till to the 14th of August 2015! We wish you happy flight hours in the meantime and we are looking forward to be in contact with you after our holiday again!

All the best

your team of ArrowCopter""


PR works both ways - it's best to disseminate/manage bad and good news. Arrowcopter presumabley knew all this before going on holiday.
 

All_In

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I hope they stay in business. I think she is the Cadillac of gyroplanes. The cost is the only thing holding me back as I can buy a one and two place Aviomania and almost paid for a Calidas, TAG, or AR1 for the same 150K?
 

magknight

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Well the magazine jumped the gun. It literally was being finalized within the last few days. No company wants to publish preliminary information just to have to revise it. I don't blame them for waiting a few days until they were confident in the full message. Better question is where the magazine got the information.
 

Mike484

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It is amazing how many large successful business have gone through the same thing at one point. This may not be a set back but could possbly be what launches them into success.

Best to wait for the smoke to clear before making any assumptions.
 

XXavier

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Well the magazine jumped the gun. It literally was being finalized within the last few days. No company wants to publish preliminary information just to have to revise it. I don't blame them for waiting a few days until they were confident in the full message. Better question is where the magazine got the information.
They have filed for protection from the creditors, something like 'Chapter 11' in the U.S. That information is public or semi-public. Googling for 'arrowcopter' and 'insolvenz', it's easy to see that the relevant court has opened the proceeds precisely today, 11th August...
 

Steve_UK

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Steve_UK

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Arowcopter have updated their website - they are now back from their holidays and tell us


"FD-Composites press release, Zeillern, 13 August 2015



FD-Composites GmbH hereby announces that it has commenced judicial composition proceedings at the responsible court in St. Pölten, Austria on August 11th, 2015. It was necessary to take this step due to illiquidity which is a result of high development and certification cost and insufficient sales numbers. The company will undergo a restructuring process which has already been started with the replacement of the former management by a team of dedicated professionals. The intention is to resume operations and to manufacture gyroplanes of the highest quality again in the future. In order to achieve that the new leadership team will restructure especially the finances of the company and create a proper marketing and distribution strategy.

In case of any questions please contact [email protected] and include a phone number on which we can call you back. We will try to answer as soon as possible.

Mag. Siegfried Gruber
CEO FD-Composites GmbH""
 
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