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This project started as an tool to explain construction of an alphabet to students. Font Constructor is not only ment for students. The application can be used by graphic designers, typedesigners or be anybody who has fun with it.
export OTF's (be aware, very rough: no hinting, no kerning, no features)
copy paste from Illustrator or Fontlab
it has a small vector editor inside.
More info about the application is available on the Font Constructor website.
There is also some basic documentation online.
You can also join the Font Constructor mailing list / group if you want to be informed.