After a five-year hiatus from manufacturing single-engine airplanes Texas-based Mooney said that it will restart manufacturing at the beginning of January 2014 at its headquarters in Kerrville Texas.
New funding from Soaring America Corp., a California based company will provide necessary capital to re-launch and sustain the legendary brand, the airframer said.
Details of the financial arrangements will remain confidential, Mooney said. The company will continue to manufacture the Acclaim Type S, and the Ovation series.
According to the company, the first order of business will be to hire and train a new workforce and reestablish the supply chain. The company is projected to recruit up to 100 people within the first year of operation.
Mooney said it has a large variety of personnel needs that includes technicians, engineers, line workers, accounting and sales people. Within two years, the company is anticipating employing significantly more people depending on the demand for its products.
The Acclaim Type S is recognized as the world´s fastest single engine airplane. The turbo-normalized airplane is home to over 130 speed records with a normal cruise speed of 230 ktas and a service ceiling of 25,000 feet. The Ovation series has cruising speeds up to 190 ktas and a service ceiling of up to 20,000 feet.
During the difficult economic times starting in 2008, when single engine sales dropped by over 30% compared to the year prior, Mooney ceased production. Over the last five years, the company that was started by Al Mooney more than 80 years ago has remained in business, focusing on customer support for the Mooney planes still in service.
Find out more at www.mooney.com.