-- Completed Reorganization Plan Provides Opportunity for Sustained Operations, New Growth and Emerging Technologies
CHICAGO, June 12, 2014 /PRNewswire/ -- Airtronic USA, a US based electro-mechanical engineering design and manufacturing company founded in 1990, has recently obtained a multimillion dollar cash investment from individual investors affiliated with RPG Funding Investors thereby satisfactorily resolving creditor claims and successfully emerging from the Company's Chapter 11 reorganization proceeding on 13 May 2014. RPG Funding Investors' investment and management backing delivers a resounding assurance to investors and customers of Airtronic USA for sustained operations and growth as the Company continues to manufacture and offer a select product line of small arms, avionics, medical and telecommunications equipment.
Richard Vandiver, new Chief Operating Officer for the Company, commented, "Our success is measured by our commitment to the customers we serve and this investment and successful reorganization marks a very positive step toward ensuring that our products remain continuously available and are marketed in new, select regions of the world. I am confident that Airtronic USA will soon be recognized and respected throughout the global communities that depend on our technological advances and solutions as a new, highly innovative leader in the defense industry."
The RPG Funding Investors' backing and management expertise will ensure that the quality products Airtronic USA has produced for the past 24 years are fully available for its global customers while providing the necessary managerial and financial support to reinvigorate the Company, strengthen its operating capabilities and enhance its R&D department to develop new technologies and promote future expansion and growth. As a founder of Airtronic USA, Dr. Merriellyn Kett will continue to offer her enormous industry experience and entrepreneurial vision to supplement the ongoing improvements to supply chain management, manufacturing processes and quality control strategies administered by RPG Funding Investors and the additional management expertise introduced to the Company through its resources.
Airtronic USA specializes in the design, development and manufacturing of high-grade, weapons systems renowned for their reliability, usability and accuracy. A select list of Airtronic USA products include:
- RPG-7 (USA) Rocket Propelled Grenade Launcher
- RPG-777 (USA) Lightweight Rocket Propelled Grenade Launcher
- M203 40mm Grenade Launcher
- M203 X-Pic 40mm GL (Extended Picatinny Receiver)
- M203 MLGL 40mm Managed Lethality Grenade Launcher
- M4 Assault Rifle
All of Airtronic USA's products are manufactured in the US. Operating in strict conformance with the ISO 9001:2008 international quality standard for Quality Management Systems, Airtronic USA has produced high-quality weapons systems that are combat proven and manufactured to US Government quality standards. Key Airtronic USA customers include:
- U.S. Department of Defense
- Law Enforcement Agencies
- Allied Foreign Militaries
About RPG Funding Investors
RPG Funding Investors is a leading US-based investment management firm focused on applying its specialized expertise and deep understanding of operations, manufacturing management and defense industry knowledge to provide a risk-adjusted return for investors and stakeholders while improving operations, enhancing capabilities and strengthening service and product lines for customers.
SOURCE Airtronic USA