Six months after US Highland lost three members of its executive team in a tragic small-plane accident, the American company has announced that it will be idling its Tulsa plant while it continues to finish its latest round of funding. Despite this news, US Highland is reportedly close to achieving its fundraising goals, and hopes to have production rolling again once the fundraising is complete.
The Southbridge Advisory Group (SAG) has been brought in to help find a new executive team for US Highland, and is also helping the motorcycle manufacturer find new investors. While any one of these goals would be a large undertaking on its own, having to contend both with raising capital and finding a new executive team is a daunting task.
“Negotiations are in final stages for the funding,” said SAG Managing Director Ron Brewer to Tulsa World. “Upon completing funding, US Highland will commence full operations in Tulsa (Mounds) again for the manufacturing and sale of their new product lines launching in 2011.”
Before the plane crash, US Highlands had 30 employees at its 33,000 square foot production plant in Mound, Oklahoma, just outside of Tulsa. Hopefully the company can find the necessary bridge capital to get motorcycle production going again, and complete the waiting customer orders.
Source: Tulsa World