US Highland Idles Factory

Negotiations underway for new funding

By Motorcycle.Com Staff, Jan. 20, 2011
US Highland has halted production at its Tulsa, Okla., plant as the company seeks new financing.

According to Tulsa World, US Highland is currently in the final stages of negotiations for additional funding with production to resume once the deal is completed. US Highland is looking for a new leadership team following the deaths of three senior executives in a plane crash last July.

Headhunting firm Southbridge Advisory Group was brought in to find a new management team. According to Ron Brewer, managing director for Southbridge Advisory Group, a management team has been found but won’t officially join US Highland until the company finds receives additional funding. Southbridge is also handling negotiations for new financing.

“Negotiations are in final stages for the funding,” Brewer told 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,”

The 33,000 square foot manufacturing facility in Mounds, Okla., just outside of Tulsa opened in June 2010. US Highland employed about 30 when it lost President Mats Malmberg, Chief Operating Officer Chase Bales and Chief Financial Officer Damian Riddoch in the plane crash.