|| Print ||
|Articles - March 2011|
|Wednesday, March 02, 2011|
Erickson filed for a $75 million IPO in May 2010. But its revenues have been shrinking rather than growing in recent years, from $142 million in 2007 to $137 million in 2008, to $114 million in 2009. The company provides services and maintenance for heavy-lift helicopters used for logging, construction and firefighting. It has subsidiaries in Italy, Canada and Malaysia and seasonal contracts in Australia and Greece. It also manufactures helicopters in Oregon, but not many of them — selling just nine since 2002 and none in 2010.
Between falling revenues and heavy borrowing, Erickson had $88 million in debts as of Sept. 30, 2010. “We anticipate that we will not be in compliance with certain financial debt covenants,” the company wrote in a Dec. 27 SEC filing.
So landing an agreement to export five helicopters to China was a huge deal. Erickson entered into a non-binding agreement in December with China Taicang Aircrane, a subsidiary of Wan Yu Industries Groups. The White House mentioned the deal in a Jan. 19 document stressing the economic importance of exports to China. Erickson officials could not comment because of the mandatory “quiet period” that accompanies IPOs, to avoid inflating the stock price with hype.
If the deal goes through, it will bring new life to Erickson’s Central Point operation, where most of the company’s 700 employees work. (The company moved its headquarters from Southern Oregon to Portland prior to filing for an IPO.) But future manufacturing may take place in China instead of Oregon. One element of the deal outlined in SEC documents calls for “cooperation with and support of Taicang in developing the capabilities and facilities required for the manufacture, marketing and support of the Aircrane in China.”
Erickson is one of two Oregon-based companies wading through the complex process of going public since filing last May. The other is the Portland-based IT security and compliance business Tripwire. In contrast to Erickson’s falling fortunes in recent years, Tripwire has been growing revenues by more than 20% per year and has over 5,600 customers in 89 countries. Tripwire is also restricted from commenting during its quiet period.
Tuesday, December 09, 2014
BY LINDA BAKER
On the eve of the Portland Ad Federation's Rosey Awards, Matt Anderson, CEO of Struck, talks about the transition from creative director to CEO, the Portland talent pool and whether data is the new black in the creative services sector.
Monday, November 10, 2014
BY KIM MOORE | OB RESEARCH EDITOR
A market for low-carbon transportation fuels has a chance to flourish in Oregon if regulators adopt the second phase of the state’s Clean Fuels Program.
Thursday, November 20, 2014
BY OB STAFF
Farmers, grocery stores and food processors cash in on kale.
Thursday, December 11, 2014
BY JESSICA RIDGWAY
Lawger upends the typical hourly based fee model by letting clients determine the cost.
Wednesday, October 22, 2014
BY AMY MILSHTEIN
Meetings get a bad rap. A few local companies make them count.
Saturday, December 13, 2014
Checking in with the managing director of Arnerich Massena.
Friday, December 12, 2014
BY LINDA BAKER
Studying ground-running birds, a group that ranks among nature's speediest and most agile bipedal runners, to build a faster robot.
|A Complex Portrait: Immigration, Jobs and the Economy|
|Woman of Steel|
|Kill the Meeting|
|Obama to announce end of Cuba isolation|
|Energy prices drop cost of living in US by most since 2008|
|Russia's attempt to slow ruble freefall fails|
|AAA: Holiday travel could set record this year|
|Sub-$2 gas prevalent across US|
|Group buys PetSmart for $8.3B|
|Oil prices could continue to plummet|
Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
How sports tourism is driving economic growth and making cities across Oregon a better place to live.
Port of Morrow's business-ready attitude has a surprising global impact.
Through its support of the arts, the Cultural Trust is strengthening the business community.
Heed the morals of these seminal holiday stories in your everyday life.
Amy will practice in the firm's Business, Real Estate, and Tax practice groups.
While the Bend City Council ultimately upheld the approval which enables OSU-Cascades to move forward with the 10 acre site, it did also thoughtfully consider the nature of its code requirements, resident concerns and OSU-Cascade’s efforts and suggestions and crafted conditions of approval to address potential impacts of the site in the area.