It’s been a little more than six years since Mooney was acquired by Meijing Group, a Chinese real estate company. But, this week, the company closed its doors. At this time, there has been no official announcement as to the future of the company. The Kerrville Daily Times announced yesterday that Mooney’s employees were furloughed. With hopes for the future for the employees affected by the shutdown, Kerrville’s Area Chamber of Commerce president and CEO, Walt Koenig told the Daily Times, “I think they will be back.”
Mooney Furloughs Employees
Key Takeaways:
- Mooney International, acquired six years ago by China's Meijing Group, has closed its doors and furloughed employees in Kerrville, Texas, with no official announcement regarding its future.
- Under Chinese ownership, Mooney initially pursued aggressive reestablishment, increasing staff, reopening factories, establishing new facilities (including one in China), and developing the M10 aircraft, which was ultimately shelved.
- The company faced challenges including leadership instability and a lack of significant activity at its Chinese facility, despite initial ambitious expansion efforts.
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