“We need to grow internally and have the financials to buy an opportunity. Maybe we will go public in a few years by issuing stock, but our three-year plan is to increase revenue by 60 percent from internal, organic growth. We plan to consolidate the company in a way that allows us to maintain our customer support.”
While that sounds like Spagnolini is focusing on Mecaer’s financials, he adds that overly emphasizing numbers can be counterproductive. “I believe more in industry than finance, because finance is sometimes narrowly focused. In aerospace particularly, when you focus just on the finances, you can lose your presence in the market. I want people with the courage to innovate and develop – of course, with the support of the shareholders. I want people on my team willing to take risks for long-term success,” he says.
Spagnolini doesn’t say that he foresees a crisis impacting Mecaer or the industry, but he doesn’t necessarily fear disruption. “When there is a crisis, if you stop investing for the future, you kill the
company. A crisis is when you should seize the moment because there is usually a niche you can serve and move into that’s created by others cutting back.” He saw this philosophy enacted by his old mentor, Caporaletti, when the CEO guided Agusta as it skirted bankruptcy in the ‘90s. “He headed the company through a tough time and initiated the redesign of the (model) 109. He also started the launch of the 139. It was a big risk that became a big success,” says Spagnolini.
Where does Spagnolini foresee future success for the company he now leads? He answers, “Our landing gear and actuation business is growing exponentially, based on our top-notch record in design reliability, quality and on-time delivery performance. In regards to rotorcraft interiors overall, the U.S. market is fundamentally different from the European approach. In the U.S., it is common for the customer to purchase a ‘green’ (unfinished) aircraft and then take it to a completion center for the interior. In Europe, approximately 90 percent of interiors are done at the OEM level.” He concludes, “We want to make Mecaer
very successful. As part of the Italian aerospace sector, after the big companies like Leonardo, we want to be the leader in our segment through both domestic and international growth.”
That lofty, yet seemingly attainable goal, will be accomplished by building relationships, says Spagnolini. “Rotorcraft, and aviation in general, is built on relationships. It’s a small industry where everyone knows one another. If you treat somebody wrong, word will get out fast. The first rule is to always respect your competition. At AgustaWestland we competed every day against Eurocopter. We wanted to beat them, but we always respected them. In aviation, you fight, but at the end of the day you drink together.”
That’s a summarizing sentiment to which most in aviation will raise a glass. Salute!
rotorcraftpro.com
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