In an exclusive interview with Matt Francour President and CEO of Enstrom Helicopter, he clarifies that Enstrom’s management didn’t decide the closure of Enstrom, it was their Chinese ownership. They have been trying to sell the company through an equity program for the past year.  Francour says, “ The relationship between China and the United States and how to fund a United States company out of China was a difficult hurdle.”

“Enstrom is aware of multiple companies that are interested in buying them out of Chapter 7. One company has been talking with Enstrom’s Chinese ownership up until a couple of days ago, but they could not come to an agreement on the terms and conditions,” says Francour.

They’ve had a few offers for Enstrom, but they could not get the terms and conditions down. If the new company does purchase Enstrom out of Bankruptcy and continues to build helicopters, Francour assures me they would keep building in Menominee.