Wednesday, 27 August 2008

AeroMechanical Chief on BNNtv

AeroMechanical Services Ltd., (TSX:V-AMA)
Basic Shares: 81 million
Fully Diluted: 93 million


AeroMechanical is at a stage where it is shifting focus from a research and development company to a full- fledged commercial business as it expects to do revenues of around $10 million in F09, AeroMechanical boss Bill Tempany told BNN viewers Aug. 27th.
BNN Small Caps host, Andrew Bell ,asked Mr. Tempany if he agreed with Research Capital analyst Jacques Kavafian's revenue forecast of $10 million in F09 to which Mr. Tempany gave guarded agreement.

"I think Jacque's numbers are achievable," Mr. Tempany said, while adding that he expects annual revenues from the 515 aircraft contracted in China alone will eventually yield yearly revenues of $15 million.

Aside from China, Mr. Tempany said his company came off a slow first half this fiscal year to now do well in negotiations and already announced business in Central and South America, Europe and especially Africa.

The Chairman and CEO of AeroMechanical added that the departure of Darryl Jacobs as President and the appointment of former Meggitt Vice President, Richard Hayden, as Jacob's replacement came about because of the need for AeroMechanical to switch its primary focus away from R & D - where Mr. Jacobs excelled - to management of a full-fledged commercial, service business - Mr. Hayden's expertise.

Show host, Mr. Bell, signed off the program noting AeroMechanical is a, "fascinating story and I know a lot of viewers are watching the story."

To view the entire interview please click below.