Eclipse, ETIRC Advance Plans for Globalization

After securing additional financing from European Technology and Investment Research Center (ETIRC) Aviation, Eclipse announced at a Ulyanovsk, Russia press conference progress toward establishing an Eclipse 500 manufacturing facility outside of the United States. The companies first announced their intent...

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After securing additional financing from European Technology and Investment Research Center (ETIRC) Aviation, Eclipse announced at a Ulyanovsk, Russia press conference progress toward establishing an Eclipse 500 manufacturing facility outside of the United States.
The companies first announced their intent to build an international production site on January 14 The agreement between the Eclipse and Amsterdam-based ETIRC includes an equity investment by ETIRC in Eclipse that is “substantially in excess of $100 million.” The agreement also provides for significant additional financial benefits to Eclipse as agreed commercial objectives are realized. Upon completion of the equity investment ETIRC is the single largest shareholder of Eclipse Aviation. Related Story
Eclipse Aviation President and CEO Vern Raburn and ETIRC Aviation Chairman Roel Pieper traveled to Russia to meet in Ulyanovsk with federal officials and local administrators to discuss the steps necessary to establish a factory in that area. One of these steps is the completion of a process, already underway, that will also establish a special free-trade zone in Ulyanovsk, a project that has been strongly supported by Ulyanovsk Governor Sergey Morozov. Raburn and Pieper's meetings in Ulyanovsk included a visit to the Ulyanovsk-Vostochny International Airport to evaluate possible factory site locations. After visiting several viable sites, the team chose what they consider to be a prime location for a future Eclipse 500 manufacturing facility. A final agreement is expected within the next few months.
Eclipse Aviation and ETIRC Aviation also revealed that its pilots flew an ETIRC Eclipse 500 to Ulyanovsk on February 18 in advance of the press conference, the first Eclipse to land in Russia. ETIRC Aviation provided numerous demonstration flights to Russian officials and media representatives to let them experience the innovative Eclipse 500 firsthand.
"Our visit to Ulyanovsk and the very productive meetings we have held here reflect our commitment to rapidly increase the global reach and impact of the Eclipse 500," said Raburn. "This week's progress also signifies the advancement of our recently expanded relationship with ETIRC Aviation, a partnership that will be instrumental in helping Eclipse reach its global volume production goals."
"It is an incredible feeling to welcome ETIRC Aviation's first Eclipse 500 jet to Russia, and to hear Vern personally share his passion for this amazing aircraft,” said Pieper. “I am excited to introduce many people here in Russia to the Eclipse 500."
ETIRC Aviation is the exclusive provider of sales, customer service, maintenance support and flight training for the Eclipse 500 in the United Kingdom, the Russian Federation, the Republic of Turkey and in the countries of Western and Eastern Europe and the Commonwealth of Independent States. A key element of the Eclipse/ETIRC partnership grants ETIRC Aviation the right to establish local assembly of the Eclipse 500 within its region. The increased production capability will allow Eclipse and ETIRC Aviation to meet the growing demand for the Eclipse 500 in Europe, Russia and Turkey.