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Home My WebLink AboutTimes Advocate, 1993-12-22, Page 3sa m iron�m_mat 11111 Ckarwater Aircraft caught in cash flow cri By Adrian Harte (ening to the s attempt 1'41 to hold onto the 's license. HURON PARK - Clearwater Air- He said only about $50-150,000 craft, the jewel in tine crown of the would be needed to get the comps - Huron Industrial Park's hopes to be- ny back on its feet, a small amount come an centre for aerospace ern- . of money compared to what the ployment, is teetering on the edge ODC has already invested in draw - of oblivion. Company manage- ing aviation businesses to the in- ment say a bit of financial help dustrial park. would put the operation back on its "How can they say they want to feet. create jobs?" asked Pearson, who More than $6 million has been in- alluded to an internal conflict at vested at Huron Park since Clear- ODC's London and Toronto offices water's arrival in early 1992. Mil- over the future of the industrial lions were spent enlarging and park. upgrading the hangar In all likelihood, facility to repair, re-'' 'Pearson said what furbish and repaint • • will probably happen large aircraft. An- JIow Clln to the company is that other $2.5 million was they say they it will close down to spent on repairing the want to create be re -std age former military bases with a new investor Y runwa s. OSS, ,r and a clean slate. A Dennis Pearson, the large U.S. aviation president of Clearwa- company, a former ter, said that a small management customer of Clearwater is quite in - team of about 15 were keeping the terested, he said. operation alive, mainly to keep tt,s A Mexican military aircraft cur - company's Department of Trans- rently sits in the hanger, still being port license valid. Last May there worked on. Contracts like that were about 90 people employed at highlight the scope of Clearwater's the plant, and hopes were that up to market, said Pearson. 200 might find work in good times. "We would be instantaneously Pearson attributed Clearwater's prepared for NAFTA," he said. troubles to a cash flow crisis in the Glen Ryter at the London office lagging economy. It's not that the of the. ODC said that if Clearwater work isn't there, only that the com- does close in Huron Park, the pttov- pany can't afford to do it. A couple ince will still push ahead with its of contracts with U.S. airlines had plans to promote the area as an avi- to be turned away, as was DeHavil- anion centre. He said he was confi- land, and the Canadian military. dent, that the Clearwater building Air Canada will also be looking to would once again be overhauling have its new paint jobs put on its and repairing aircraft, even if under jets, said Pearson. antler company. "So there's work there," he said, "It's still going to be there...I have :adding that if Clearwater can be up every confidence it will remain an ::and running again by January 1, it aircraft maintenance and overhaul may get some of that work back. facility," said Ryter. The .company can't turn to its "It's probably the one of the most banklatifmancial help because of modern facilities in Canada," he an olldTtourt judgement passed on said, pointing out that ODC in - its former operation in Sarnia. Un- eludes in its 'feasibility studies of til it is resolved, Clearwater s cash prospective businesses what would supply is frozen. happen if they go under. The mil - Pearson -said he doesn't want to lions invested in the building won't be tno't iticaltf thc-thitario Devel- 'bp: sted,•he-said. oprA)enrcb* x (`belt; ''which oper- AVitiSitlirClearwatjerAats in fi- nancial trouble, Ryter said the downturn in the commercial airline business was mostly to blame. "It's a combination of things. You don't need a degree in rocket science to realize the commercial aircraft business in Canada hasn't aces the Huron Industrial Park, but admits he would like to see more support from the provincial govern- ment agency. "l`ean't say they haven't been sup- portive...but on the other hand, we're supporting them," he said, re- Clammier e- CM .water Aircraft, the plant that was hailed as Huron Park's entry into the aerospace industry, is in a cash-flow crisis. Company officials are battling to either rebuild the operation's finances, or find outside investors to put it back on its feet. Vandalism EXETER - The Exeter OPP have investigated several more acts of vandalism and property damage in the area in the past week. Lash Tuesday, four incidents were reported to police, two in Huron Park and two in Zurich. Debora Muranyi's vehicle, parked at Exeter Machine Products in Hu- ron Park was scratched with a sharp object. Kelly Oloan of Barrie had the back window of her car smashed out while parked at Cen- tralia College in Huron Park that same day. In Zurich, Cliff Gingerich report- ed that someone had vandalized his truck and backhoe by throwing rocks through their windows. St. Boniface School in Zurich was also hit by vandals using a, BB gun to shoot at two windows and doors of the school. On Saturday, Donald Baker of Concesaiop 16 in Stephen Town - ' ship reported to police that some- one had dasnaged his front lawn by driving a vehicle across Anyone with information about these crimes can contact the OPP at 235-1300, or call Crime Stoppers of Huron County at 1.800-265- 1777. • exactly been booming," he said. ODC will continue to work with Clearwater toward some kind of resolution, he said, and added that other plans to promote Huron Park as an aviation industry centre will go ahead. The possibility of using the Centralia College buildings as a pilot training centre hasn't been ruled out. "It makes sense if you have the facilities available," he said. A former Clearwater employee, who asked not to be named, said that while company did introduce • some innovative approaches to the industry, the economy wasn't strong enough to keep the business afloat, as airlines cut down the number of hours their planes flew - slowing down maintenance sched- ules. "It's disappointing to see what happened [at Clearwater]," he said. "There could be another organiza- tion going in there...but they say there's too much overcapacity now." He agreed that financial assis- tance from the ODC might have made the difference, particularly since the unemployment benefit costs to the former employees would exceed the needed help. He too, hopes for a resolution to see the jobs brought back. "I wouldn't say it's over," he said. Stephen Township reeve Torn Tomes said the loss of the jobs at Clearwater comes at a bad time for the township, but he hopes the fa- cility can once again be bringing in aircraft for repair. "ODC has a lot invested in it...It's a specialized building now," he said. "This hasn't been too good a year [for Huron Park] with the college, EMAB, and now Clearwater," he said. • Wishing you world of good cheer this season. To all those whose friendship we value so much, go our season's greetings and sincere appreciation for your loyal support and confidence. 14 Iv'o,'/d o8Qs 1 Chewers Blind Muton twig Csaft Store 293 Main Street, Exeter (519) 235-3622 "Afr.:011*-11111t401* • A single hand can Jiff a life By reaching out to help or give, A single smile can warm a heart And keep away the rain and cold, A single caring thought or deed Can change the world that we all share... Your business was greatly appreciated in '93! 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