New Piper's Changing Owners, a Little | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 05.25.17

Airborne
05.22.17

Airborne
05.23.17

Airborne
05.24.17

Airborne
05.25.17

Airborne
05.26.17

Airborne-Unmanned 05.23.17

Airborne-YouTube

AMA 05.25.17

Airborne
05.22.17

Airborne
05.23.17

Airborne
05.24.17

Airborne
05.25.17

Airborne
05.26.17

Airborne-Unmanned 05.23.17

XPONENTIAL Innovation Preview -- www.allthingsunmanned.com

Tue, Jul 15, 2003

New Piper's Changing Owners, a Little

New Piper Has New Money, Possibly New Owner

Since last night, the rumors have been flying; now, we know something: American Capital Strategies Ltd., out of Bethesda (MD), has purchased a large portion (rumored to be about 3/4) of New Piper's debt. In real money, that comes to about $130 million.

That transaction means two things: the airplane company will have some cash to work with; and American Capital is well on its way to being the owner of record of New Piper.

The announcement, as we informed you early this morning, was made by New Piper's President, Chuck Suma, at a very special press conference in New York city. He was enthusiastic: "The American Capital investment is a major step in the right direction for New Piper," he told assembled financial reporters.

American Capital's Managing Director (and Senior VP), Gordon O’Brien, seemed happy with the deal, and with New Piper's management: "The exceptional leadership of The New Piper management team, the company’s strong dealer network, its dedicated and skilled workforce were major factors in deciding to invest additional capital in the company." He continued, "We have watched Chuck Suma and his team rebuild New Piper into an innovative leader in general aviation, despite what has been a particularly tough economic climate."

It looked like the right company, at the right time, O'Brien continued. "We think New Piper is now poised to become even stronger as the economy -- and general aviation, in particular -- rebound."

After all the dust settles in a couple weeks, will any of the 800 or so former employees be recalled? It may be too early to tell, but President Suma did not rule out the possibility. After all, that's what a recovery plan is all about -- and, as New Piper has new money, and the industry itself is actually starting to stagger to its feet, why not?

FMI: www.newpiper.com; www.american-capital.com

Advertisement

More News

Memorial Day Celebration Turns Bad With Leap Frogs Accident

Navy SEAL Dies After Parachute Malfunction In New Jersey Normally; Memorial Day is a celebration of those who have fought for the freedoms so many of us take for granted. It's a gr>[...]

Airborne-Unmanned 05.23.17: Courts Nix Model Regs, Autonymous Flt, WATT 300

Also: King Schools Update, Kittyhawk APP, Robird And Integrated Drone Solutions, ICAO Drone Tracking The unmanned community got a bit of a jolt late last week when the US Court of >[...]

AMA Drone Report 05.25.17: Court Kills FAA Model Drone Registration, DJI Spark!

Also: AMA Reacts To Court, FAA Reaction, AUVSI Reaction, Kittyhawk Flight Deck APP Score one for us little guys... As you may have heard, the U.S. Court of Appeals in Washington, D>[...]

Airborne 05.26.17: Elvis' Jetstar, ACJ330neo, Redbull's Muroya Aims For Chiba

Also: Revitalizing The Aero-Verse, NAAA's Concerns, 737 Air Tankers, SD Air & Space Museum, LAX Mishap, Avidyne After sitting on a runway in Roswell, NM for more than 30 years,>[...]

Aero-Help Wanted: ANN Needs Good Honest Marketing Staff

ANN/Airborne/Aero-TV Marketing Department Needs Part or Full Time Personnel E-I-C Note: After months of hints, we've unveiled the next steps in the Airborne programming initiative >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC