Investment By New Singapore-Based Parent Company Brings New Hires, More Resources, Expanded Opportunities

Despite the current economic downturn, the new, Singapore-based owners of Piper Aircraft say strategic investment has enabled the company to move forward on many fronts, from the formation of a new company focused on Asia/Pacific initiatives, to accelerated development of its product line and other product programs.

"The Imprimis acquisition was a major milestone for us - one that is a boon for the company and its future," said Piper President and CEO Kevin J. Gould. "Over the years, Piper has had many owners, but few saw the strategic value of this iconic company. Now, with Imprimis and its strategic sense of what Piper can be and how it can grow, we have owners the likes of which we haven't seen since the days when Bill Piper owned the Company."

Imprimis -- a corporate finance and investment management firm that operates from its offices in Singapore and Brunei Darussalam - acquired Piper last year with a pledge to take the company to new levels of performance. `We are making major commitments to expanding our business and providing top quality aircraft and service throughout Asia/Pacific, said Mary Messuti, Managing Director, Piper Aircraft Asia.

Piper's new initiatives in Asia/Pacific were the focus of the company's news conference held here Tuesday at the 2010 Singapore Airshow and constituted yet another example of Piper's new focus on expanding operations in Asia/Pacific with the formation of Piper Aircraft Asia, Sdn Bhd.

"We have made huge inroads in establishing ourselves in the Asia/Pacific market," said Messuti, "and our expectation is to continue significant growth in the region."

Messuti pointed to the following major developments:

• The formation of Piper Aircraft Asia, Sdn Bhd, with headquarters in Brunei Darussalam.
• The appointment of Allan Bligh - a major general aviation aficionado and de-facto publisher of AOPA's Australian Pilot - as Vice President of Marketing for Australia/New Zealand.
• Ongoing plans to set up major sales and service operations - in addition to head office in Brunei Darussalam - in  the Pacific/Rim and China/adjacent locations.
• Establishment of a flight training academy in Brunei - requests for Proposals (RFP) are out now with decisions expected soon.
• Ongoing and new fleet sales in the region -i.e., see (in media kit) Australian Airline Pilot Academy (AAPA), a wholly owned subsidiary of Regional Express Holdings Limited (Rex).
• Debut of the all-new PiperSport here today in Asia/Pacific markets and the Light Sport Aviation (LSA) segment as a world-class aircraft that speaks to Piper's heritage in bringing seminal, entry-level airplanes to market while offering features and performance normally found in high-end aircraft.
• Establishing Aviall Services, Inc., a wholly owned subsidiary of The Boeing Company, to be Piper's global parts distributor, providing supply chain support for the company's global dealer network and individual customers.

"Piper is truly committed to expansion of world-class sales and service globally -with particular emphasis on Asia/Pacific,' said Messuti. "Imprimis bought Piper to expand its existing businesses and investments, and facilitate its expansion into General Aviation, a strategic sector, in which it had been looking to invest for some time."

Asia's general aviation sales are set to rise beyond its current global share of five per cent and  sales of two- to six-seat aircraft should grow steadily during the next five years due to growing wealth and sophistication in Asia and increasing demand for pilot training from training schools and flying clubs (commercial and private).

In acquiring Piper, Imprimis executives outlined plans to propel Piper from its current status as a company with a rich heritage and reputation for innovation, and expertise in aircraft design, development and manufacturing, to one that has greater resources and capabilities to capitalize on opportunities in emerging and traditional markets.

Prior to its acquisition by Imprimis, Piper - as has been the case with many companies - had to scale back on the scope and timing of its research and development programs. Now, however, the company is back on track with full development of the PiperJet and other exciting product initiatives.

Among the first actions Piper has taken in implementing its new strategic direction has been recruitment of new engineering resources to propel its product initiatives, beginning with the PiperJet. "Development of the PiperJet, as well as other new products and innovations, is crucial to Piper's long-term growth strategy," said Gould, "and Imprimis has earmarked funds to ensure that we move forward on these vital programs."

Proof of that commitment is evident in Piper's hiring of more than 50 engineers as it ramps up product development programs to ensure optimal timing for first deliveries of the company's first pure, jet-powered, turbofan design in its 72-year history. "We are in the process of hiring engineers at all levels - from senior to entry-level professionals - and across all engineering disciplines, including structures, systems, flight test, and manufacturing," Messuti said. "With our new ownership, the acceleration of Piper's product programs is truly remarkable."

In addition to its product initiatives, Piper executives have announced that the company is well on its way to international expansion of dealer bases throughout Asia,  Pacific/Oceania, the Middle East, Europe, Africa, Central America and Caribbean regions. This expansion is in keeping with the company's new strategic growth plan.

In acquiring Piper, Imprimis cited international expansion as a top priority, particularly in Asia, where general aviation sales are set to rise beyond their current global share of five percent. Piper sees significant opportunities there given the company's model mix and the steady growth analysts are predicting for sales of two-, four- and six-seat aircraft over the next five years - the result of shifting demographics and increasing demand for pilot training from training schools and flying clubs (commercial and private).

Says Gould: "We have a serious game plan, and an ownership group that is committed to our long-term growth and success."

FMI: www.piper.com