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MISTRAL IS BACK IN BUSINESS
March 1, 2011, Mistral resumed his activities, albeit in a modest, but sufficient way to consolidate gains and prepare the ground for a full resumption of operations. A first group of key engineers, all former Mistral employees, are back to work. The FAA certification of Mistral’s G300 engine has resumed and shall be completed by next year.
The company would like to thank all those who expressed their support and encouragement during this “chapter 11” period. The market appreciation we received and the global interest for Mistral’s technology greatly helped cheering up the Board’s morale. Mr Claude Geles, President of Mistral, said “We don’t give up easily and we don’t take no for an answer. There would be a way to get Mistral back in business, it just took us some time to find it”.
Mistral’s rescue has been made possible thanks to Mr Robert Herrmann, a business man and a private pilot, who read once an article about the company and decided something had to be done. “Everyone in the industry understands the benefits of Mistral’s technology. I found the risk/reward ratio quite favorable and decided to bring this financial spark that would start the venture again.”, said Mr Herrmann.
As soon as adequate financing will be secured, Mistral will also resume the development of the Kerosene version which is strongly expected by the market.
