Presentation at HELI EXPO where Chuck Surak (new owner) introduces himself, recounts his personal history with Enstrom (including first buying an Enstrom 480 in August 2008), and describes rescuing the company after bankruptcy. He reports that since acquiring the company last May they grew from almost no employees to about 125, have restarted production (an Enstrom 480B recently rolled off the line), and are rebuilding operations in Menominee, Michigan. He thanks long-time staff, announces Matt's upcoming retirement, and hands the floor to the new president/CEO, Todd, who reaffirms progress and commitment to employees and customers.
Chapters
Good afternoon, everyone. Welcome. Welcome to the Instrum booth. My name is Chuck Surak and I'm the new owner of the new Instrum helicopter company as of last May. Thank you. Thank you for all being here. We are so excited to share with you our booth and what we've been working on for the last eight or nine months. But before we do, I want to take a quick second and really introduce myself a little bit more. Fifteen years ago, I couldn't spell the word helicopter and I saw an instrum 480 flying to our local air. I went and talked to the pilot. I said, how cool is this? And he said, well, you should get your license. I said, oh no, I'm too old at age 50. He said, oh, no, it's not hard. I've had other friends that are older do it. And so I went home and started convincing my wife how important it was for me to learn to fly a helicopter. And next thing you know, she buys me a helicopter logbook and the FAA how to fly helicopters. And during that spring, I started learning to fly in an instrum 280. And before I had my rating, I ordered a brand new instrument 480B Turbine. And I was hooked on helicopters. And by then I could spell the word helicop. And so I got that 480 in August of 2008, and I flew for several hundred hours and really loved the helicopter. And the bug had bit me pretty hard. And so I then upgraded to bigger, more capable aircraft from Airbus and Leonardo and that sort of thing. But I've always been a fan of instrument, followed the company through the years, came to the booth every year, and because it was my first, it was the one I was in love with. And sadly, last January, December, I heard of the sad situation that instrument was in. They were filing bankruptcy and broke my hart. And they've had some great owners and not so great owners through the years, but filing bankruptcy looked like it was the end. Somebody came to me in the spring and said there might be an opportunity. I checked into it and I was so impressed by all the people in Menominee, Michigan when they made these helicopters, that I stepped up and said, yes, I want to save the company. So last May, we had a few volunteer employees, but really almost no employees. Fast forward to today. We have 125 employees. We're looking for new engineers and new production people every day. This is the first helicopter off our line. The instrum 480B right behind me came off the line a few weeks ago. We've got several more in line right behind it. And so Instrum is back. Instrum's back in a big way. So I just want to thank all of you for being here. I want to thank the Instrum employees for having faith. They've had some pretty trying years and it's just been great to come back. And I'd say probably 90% of our employees used to work at Instrum, came back right away and hired another 10% or so from the community, from the region. Just really excited to be here. So thank you all. I want to make a couple other quick announcements. We have a good friend who's been leading the company for the last couple years, Matt Franker. And Matt, you've been with the company for decades and I just appreciate everything you've done. And I can't imagine being in your shoes the last couple years running the company and having your hands tied so much. Matt's become a good friend over the last eight or nine months and just thrilled to have him on board. Happily for him, sadly for us, he's going to retire this month. And so I wish you the best in retirement and thank you. And he's not going to be a str. Promise that he'll stick around and help us with some special projects. So Matt, thank you very much. And filling in his shoes, but no one will ever fill in Matt's shoes is our new president and CEO. I don't know when he actually started, but he did start technically early January, so top tet slump started and just excited to have him here with his leadership and his experience and he and Matt are working hand in hand to make sure the handoff is really good and the future of instrument is really, really bright. And I'm just thank so want to say a few words, Todd.
Sure. Thank you, Chuck.
Thank you. Hello everyone.
Thanks for coming back in the day. At Instrom, there's an avionics tech familiar to many of us who would say as someone was leaving for a new opportunity, they'll all be back. Everyone comes back. And he's right. There's something about Enstrom that draws people back and I'm proof of that. And even one of our new hire coming back soon. So you don't, you always come back, but you really don't ever leave. So Chuck, thank you for the opportunity. Matt, thank you for all your guidance over the last few months. I really, really appreciate it. The strides made in the last 10 months are extraordinary. It's unbelievable. Months ago the doors were closed, the lights were out, there Were no employees. As Chuck said, Today we have 125. We have a robust production line. We've got inventory being built. All of our shops are busy. We have a very capable manufacturing facility. It is beyond credibility. Chuck's the leaf in Enstrom and the Enstrom team is extraordinary. He has empowered us to do more in the last 10 months than we ever thought possible. He obviously has a passion for helicopters, a passion for the Enstrom brand. And he has decided that he wants to bring it back, bring it back to the helicopter industry, bring it back for the employees of Menominee and their families, and bring it back to our long standing and loyal customers. Thank you.
Thank you.
As I said, production line is humming. Things are happening. We are hiring. We need aerospace professionals on the shop floor and in engineering. Our engineering team right now is busy working on certifying the features we have here. We've got the glass panel, we've got the governor in the piston helicopter. And another feature is this beautiful paint job Dean Lautz designed paint scheme of which we have many more available for viewing here today. It's a new beginning for instrument. I think of it as a startup with 60 years of history behind it and a type certificate and a production certificate. It really is a unique situation to be in. So with that, thank you again. Thank you so much. We're willing to take all your questions. We invite you to come in here and take a look at that glass panel, the new interiors, and we'll answer any of your questions. One other thing, the three of us are up here, but there's a multitude, 125 of them, who have been working diligently to get these helicopters here today. And many more coming. Thank you. It.
