Precision Airmotive Seeks Bankruptcy Protection | 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

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 06.18.18

Airborne-UnManned 06.19.18

Airborne 06.20.18

AMA Drone Report 06.14.18

Airborne 06.15.18

Airborne-YouTube

Airborne 06.18.18

Airborne-UnManned 06.19.18

Airborne 06.20.18

AMA Drone Report 06.14.18

Airborne 06.15.18

Tue, Dec 18, 2012

Precision Airmotive Seeks Bankruptcy Protection

Entered Chapter 11 On December 7th Due To Product Liability Litigation Costs

Precision Airmotive said in a letter to its customers dated December 13th that it had entered Chapter 11 bankruptcy. In the letter, the company said the move was taken as the result of "product liability litigation costs incurred with respect to our former carburetor line and does not reflect upon the viability of the business itself."

The company said in the letter that it continues to be financially viable and stable, with a record of on-time product delivery. "It is our desire and expectation to maintain this high standing with our customers-which is why we have voluntarily chosen to take this action," the letter states.

Precision Airmotive said it "fully anticipates delivery of product to continue per agreed upon terms." The company said that the filing will allow it to "restructure and emerge as an even stronger and healthier organization," and that the move is "in the best interest of both Precision Airmotive and our valued partners."

On its website, the company says it is the Original Equipment Manager (OEM) of RSA Fuel Injection Systems. "Because we are the only manufacturer of this time-proven fuel control, engine manufacturers around the world rely on our expertise and engineering excellence to design systems for new generations of aircraft. Precision's engineers have updated the existing RSA Fuel Injection System and supply these systems for installation on new Cessna Aircraft currently in production."

FMI: www.precisionairmotive.com

Advertisement

More News

Airborne 06.18.18: XP-82 Twin Mustang, Tuskegee Airmen, Supersonic Reg Change

Also: Thunderbirds/Snowbirds To N TX, AK Mid-Air, Gogo AVANCE L5, Sikorsky's New Parts Supply Site The restorers of a North American XP-82 “Twin Mustang,” one of the mo>[...]

Airborne-Unmanned 06.12.18: FAA Restrictions, Drone Innovation Act, Parrot Anafi

Also: UAS Software Startup Kittyhawk, Drone Delivery Canada, Axon And DJI, Airobotic's Autonomous Industrial Drones At the request of federal security partners, the FAA has been us>[...]

Airborne 06.18.18: XP-82 Twin Mustang, Tuskegee Airmen, Supersonic Reg Change

Also: Thunderbirds/Snowbirds To N TX, AK Mid-Air, Gogo AVANCE L5, Sikorsky's New Parts Supply Site The restorers of a North American XP-82 “Twin Mustang,” one of the mo>[...]

AMA Drone Report 06.14.18: AMA Expo W Drone Races, Ag v Drones, Kitty Hawk Flyer

Also: Drone Rotor Safety System, Birds Inspire Drone Design, UAVs Stop Crime, Fat Shark 101 As previously noted, the upcoming AMA Expo West Tradeshow not only starts early, but in >[...]

It's On--Again! EAA/ANN Announce 2018 AirVenture Innovation Preview!

Stunningly Successful Innovation Program Draws Hundreds of Thousands of Eyeballs to ‘All Things AirVenture’ E-I-C Note: We're tremendously excited to work with EAA agai>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC