Energy & Engine Technology Corporation Announces Proposed Acquisition Of Airport Support Facility and Second CEO Webcast
PLANO, Texas, Jul 11, 2002 /PRNewswire-FirstCall via COMTEX/ -- Energy & Engine Technology Corporation (OTC Bulletin Board: EENT) announced today that the Company has entered into a letter of intent with Flight Crafton Aviation, Inc. to acquire its "fixed base operator" at the Archuleta County, CO -- Stevens Field Airport (http://websites.pagosa.net/airport /) which is in Pagosa Springs, CO. Pursuant to the letter of intent, the Company shall acquire the fixed base operator (full service aircraft hangar and repair facility, offering complete aircraft maintenance and repair as well as upgrades) for a combination of cash, debt and stock, totaling $200,000, as well as assuming the lease for the building and hangar in which the fixed base operator is located. The Company is in the process of securing financing for the purchase with a private investor.
In addition to providing traditional "fixed based operator" services at the Pagosa Springs location, the Company contemplates its proposed aircraft modification unit at the location. In conjunction with Richard P. MacCoon, a well-known expert in the aircraft industry for the past half-century, known in the industry as "Mr. RPM", EENT is analyzing the possibility of providing engine improvements to Aero Commander aircraft. Mr. MacCoon and EENT may jointly offer several enhancements to improve performance, comfort and safety of the Aero Commander craft, including a revolutionary turbo-charger retrofit for piston engines that provides increased power at higher altitudes.
The Company also announces that its second CEO Webcast with Tribe Communications, Inc. will be completed on Thursday, July 11, 2002, and will be available to the public on or before Monday, July 15, 2002. The Company's website can be found at www.eent.net , and Tribe's website can be found at www.epowow.com .
SOURCE Energy & Engine Technology Corporation
CONTACT: Energy & Engine Technology Corporation, +1-972-732-6360 URL: websites.pagosa.net |
