Quartz Mountain Aerospace announces temporary resizing of workforce - KSWO 7News | Breaking News, Weather and Sports

Quartz Mountain Aerospace announces temporary resizing of workforce

Altus_Press Release_President and CEO, Mark A. Arciero announced on Tuesday the temporary resizing of the workforce at Quartz Mountain Aerospace at both their Altus Oklahoma and Coffeyville Kansas facilities. Arciero mentioned "a core team will be in place at a nominal scale to keep all business activities running including the building of aircraft".  In a statement released to the employees, Arciero said "this action is vital to weather this economic storm and bridge QMA until the finalization and issuance of our Bond." 

During the past few months, QMA has been in negotiations with several investors and are in the final stages of closing on a multi- million dollar bond that will sustain production for years to come.  This financing plan not only provides production funding but also provides credit sources for its primary customers (Flight Training Schools). This allows them access to new aircraft at a fraction of the monthly cost.  "The final piece of the puzzle is the Bond and we are extremely confident that it will be in place late November" said Arciero.

Quartz Mountain Aerospace, Inc., a privately held corporation based in Altus, Oklahoma, is the manufacturer of the QMA 11E four-place single engine aircraft. The aircraft is based on the Luscombe 11A design and brings a roomy, rugged, four-place single engine airplane to the General Aviation sector. Purposely designed to provide comfort and performance to the flight training market, the 11E fits the personal usage niche as well.  The 11E offers state of the art avionics and superior engineering that enhances the flight experience.  For information contact Corporate Communications at (386) 299-3333.

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