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 09.22.14 ** HD iPad-Friendly -- Airborne 09.22.14 **
** Airborne 09.19.14 ** HD iPad-Friendly -- Airborne 09.19.14 **
** Airborne 09.17.14 ** HD iPad-Friendly -- Airborne 09.17.14 **

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

Airborne 09.19.14: Cool City R44 Cert, Reno Rumblings, Sierra Re-Jets The CJ

Also: Eclipse Improvements, AEA Urges NextGen GA Fund Adoption, FAA OKs External Cams, GA Accident Rate Declines The FAA has granted an STC to Cool City Avionics for the installati>[...]

Best of Show! The Very Best/Worst of Oshkosh '14! (Part 1)

Compiled By The Staff and Readership of the Aero-News Network, Airborne, and Aero-TV (Part 1) For quite a while, we have recognized the highs and lows inherent in the general and s>[...]

2014 Public Benefit Flying Award Recipients Announced

Aviation Volunteers And Organizations Honored For Public Benefit Flying The National Aeronautic Association, in partnership with the Air Care Alliance, a nationwide league of human>[...]

Klyde Morris (09.22.14)

Klyde Gets Recurrent... On An Installment Plan FMI: www.klydemorris.com>[...]

Aero-News: Quote Of The Day (09.22.14)

"Volunteers in aviation and those who support them are the heart and soul of charitable aviation, and the work they perform is invaluable. They fly needy patients for care, inspire>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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