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/NBAA2014 10.22.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.22.14 **
** Airborne/NBAA2014 10.21.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.21.14 **
** Airborne/NBAA2014 10.20.14 ** HD iPad-Friendly -- Airborne/NBAA2014 10.20.14 **

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

Game-Changing NBAA2014 Sponsor Mid-Continent Instruments and Avionics!

Innovation Brings Safe, Certified, Nanophosphate® Lithium Batteries To New Business Aircraft True Blue Power is the first company in the world to achieve FAA TSO and EASA ETSO >[...]

Airborne at NBAA--10.21.14: NBAA2014 Opens, Eclipse Update, FJ44 TBO Increase

Also: Shuster/Hart Address NBAA, Gogo Means Business, BBJ Maxes Out, Hartzell Pulls Its Weight The NBAA Opening General Session featured two well-known names from Washington. Repre>[...]

Airborne at NBAA--10.20.14: HondaJet, Honeywell Forecast, Gulfstream's G500/G600

Also: Garmin's ADS-B For BizAv, R44s For Jordan, Textron Aviation, Hartzell Props, Clarity Aloft Pro Plus At a news conference early Monday at the 2014 NBAA convention, HondaJet sa>[...]

Airborne at NBAA--10.21.14: NBAA2014 Opens, Eclipse Update, FJ44 TBO Increase

Also: Shuster/Hart Address NBAA, Gogo Means Business, BBJ Maxes Out, Hartzell Pulls Its Weight The NBAA Opening General Session featured two well-known names from Washington. Repre>[...]

ANN's Daily Aero-Linx (10.22.14)

Airport Operators Association - U.K. Founded in 1934, the Airport Operators Association (AOA) is the national voice of UK airports.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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