Helicopter manufacturer goes public

Central Point company Erickson Air-Crane announces a $75 million initial stock offering.

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Erickson Air-Crane Inc hopes to launch into their future as a “real aero-space company” with an initial stock offering of $75 million.

The first  IPO in Oregon in years is part of their 5-year plan to expand their heavy-lift helicopter manufacturing and operating business.

Erickson has operated its manufacturing facility in Central Point since the 1970s. It was acquired for $89.7 million in 2007 and its headquarters were moved to Portland last year so it could market itself to its global clientele. About half of the company’s 720-person global work force remains in Central Point. It employs about 100 pilots and maintains a year-round international presence with subsidiaries in Canada, Italy and Malaysia, as well as seasonal operations in Australia and Greece.

Proceeds from the sale will allow Erickson to produce more helicopters at its 88,548-square-foot factory located on 8 acres just off Interstate 5 as well as expand its component manufacturing, maintenance, repair and overhaul operations. According to the filing, Erickson’s facilities can support manufacture of up to four aircraft per year.

Read the whole story at the Mail Tribune.

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