Mon, Oct 15, 2007
OK... its not a lot to
go on, but we do have a long talk scheduled with Alan Klapmeier
tomorrow in which we hope to get some more answers about a possible
Cirrus Design bid for the assets of bankrupt Columbia Aircraft.
In the meantime, we have received the following initial
statement from Alan in response to our questions about any possible
plans for Columbia -- which hints broadly at the possibility that
should CD get a hold of Columbia, that they will NOT shut it down,
but add it to their current product offerings.
At least... that's what we think it seems to say -- YOUR mileage
may vary...
Alan (pictured below) tells ANN that, "Naturally, Cirrus would
express interest given some of the similar advanced technologies in
the Columbia and how the line could compliment the current Cirrus
SR line. Cirrus has the ability to expand the business and at the
same time further enhance the value of our business. Obviously, we
also have the capabilities to take great care of the
customers."
One way or another, should CD jump into this contest, it's
obvious that Cessna's desire to acquire Columbia assets will
require some rethinking. Another bidder like Cirrus; i.e., one with
significant bonafides as a GA manufacturer (the big card that
Cessna brings to the game), takes this matter into new territory
entirely. Persons close to a number of the bidders in ths drama
believe that the future of this sale is likely to a pretty
long-drawn out affair. Bankruptcy sales as complex as this one,
especially when a number of parties are contesting aspects of the
sale's rules, are rarely concluded quickly. This does not bode well
for the near-term concerns of Columbia owners -- though a
successful sale to a company ready willing and able to take on the
many problems associated with this troubled line is obviously of
best long-term benefit.
As usual, ANN will keep you up to date as details develop...
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