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 04.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.18.14 **
** Airborne 04.16.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.16.14 **
** Airborne 04.14.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.14.14 **

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

Aero-News: Quote Of The Day (04.20.14)

"The discovery of Kepler-186f is a significant step toward finding worlds like our planet Earth. Future NASA missions, like the Transiting Exoplanet Survey Satellite and the James >[...]

Skydive Jersey Announces Shuttle Service For 2014 Season

Removes 'Getting To The Airport' As An Excuse To Not Go Skydiving So imagine it's a beautiful day to go jump out of an airplane in the greater New York City area, but you just don'>[...]

ANN's Daily Aero-Term (04.20.14): Ground Stop

Ground Stop Ground Stops are implemented for a number of reasons. The most common reasons are: 1) To control air traffic volume to airports when the projected traffic demand is exp>[...]

ANN's Daily Aero-Linx (04.20.14)

Aero Linx: The Australian Parachute Federation The Australian Parachute Federation exists to administer and represent Australian Sport Parachuting. This is achieved by promoting an>[...]

ANN FAQ: Getting The Most Out Of ANN's Newsletters

ANN goes through a lot of trouble to make the graphics flashy and cool and an integral part of the story. But let's face it, they're bandwidth-intensive. So here are a couple of th>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC