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MD: "We’re Exceeding Expectations"

By James T. McKenna | May 3, 2007

MD Helicopters is decrying “an industry rumor mill that works overtime to turn positives into negatives.” In MD’s latest press release, the Mesa, Ariz. manufacturer, Chairman and CEO Lynn Tilton said, “Our quiet focus on the execution of strategies has unfortunately been twisted into hidden problems.” She said the company is not for sale. “The fact is that MD’s operational improvements have exceeded my expectations, that the Patriarch funds continue to invest in the company, and we have recently repurchased most of the equity of minority shareholders.” Tilton’s New York distressed-debt investment firm, Patriarch Partners, took over MD two years ago. Tilton said MD has delivered 10 aircraft to date this year and expects to deliver 33 more by year’s end. For related news

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