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Follow on Google News |  PM&E is Pleased To Announce that it has Reached an Agreement with DiNelly EXOGYROBy: PM&E Inc. PM&E Inc. has entered into an agreement with DiNelly EXOGYRO, under which both parties have agreed to exchange 30% of the total issued and outstanding shares of their respective equity capital. DiNelly has designed and successfully developed the eXoGyro, which is the first completely new designed ultra-light Gyrocopter, especially designed for commercial use i.e. in military operation, civil airborne sensing, surveillance, reconnaissance, homeland security missions, humanitarian operations like mobile laboratory or first responder. The eXoGyro is most ingeniously equipped with elements like fuel cell, multi purpose rack for outside fittings, large tanks for long endurance, comfortable air condition and heating system, 2-seater + 56,5 ft³ compartment, adjustable mast system etc. The eXoGyro is ultra-light certified, with no supplemental type certification necessary, for installation of any kind of systems or equipment (subject to regional regulation). It has an excellent price performance ratio (low initial cost / maintenance / spare parts / training) and mainly no runway is needed or necessary. It has a stable flight performance even in strong wind and rough weather conditions. Under the terms of the agreement, PM&E and DiNelly will use their synergies to bring the eXoGyro into the international markets and jointly complete the development of the EVADA A4 Aircraft. Both parties have an agreement to save company resources, and manufacture both Aircraft within the same plant. The boards of directors of both PM&E and DiNelly have unanimously approved the transaction, of which both parties have the majority of the shareholders vote, and have approved the merger. Joseph Bourne, Chief Executive Officer of PM&E, said, "Executing this transaction with DiNelly, is an excellent corporate development that we have been working on the past several weeks, and it is a great opportunity for both parties to use the companies' synergies to achieve their set business plans " He continued "Without a doubt, thanks to this new transaction, we have gained substantial international know-how and valuable competences in the field of Aircraft" he continued: "We are pleased to add the eXoGyro to our our product portfolio, an innovative world-class product, which is ready for the international markets and especially for the African markets, of which we will definitely be revising our sales & EBIT projections for 2017 that we will be pleased to communicate in our future press releases." Khaled Akid, PM&E Chairman of the Board added, "Following an extensive and thorough review of strategic alternatives, we have chosen to perform a cross participation with DiNelly because we believe the transaction provides PM&E with a very substantial, quantifiable, substance appreciation, but also shareholders with a tremendous potential increase in value, both in the near future and long term!" Richard Waidhofer, CEO of DiNelly, said: "With the signing of the cross-shareholding of 30% by PM & E and DiNelly in Baden near Vienna on December 16, 2016, this represents a great step for the future for PM & E, this cross-participation creates access to a production and production in the TPS (Canban) process by audited suppliers of DiNelly according to ISO 9100: 2008, EN 9100: 2009, EASA Part 21 (Airworthiness and Environmental Certification) Website of DiNelly EXOGYRO: http://www.dinelly- Website of PM&E Inc.: www.pme-holding.com Social Networks of PM&E Inc.: PM& https://www.facebook.com/ https://plus.google.com/ https://twitter.com/ https://www.youtube.com/ https://www.linkedin.com/ Safe Harbor Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. PM&E Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. PM&E Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based. Contact: Mr. Joseph Bourne Title: President & CEO Phone: 001 (307) 392-4771 (tel:%28307% E-mail : contact@pme- Web: http://www.pme- End
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