Piper Quietly Acquired By Sultan Of Brunei | 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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.02.16

Airborne 05.03.16

Airborne 05.04.16

Airborne 05.05.16

Airborne 05.06.16

Airborne Hi-Def On YouTube

Airborne 05.02.16

Airborne 05.03.16

Airborne 05.04.16

Airborne 05.05.16

Airborne 05.06.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

Fri, Dec 16, 2011

Piper Quietly Acquired By Sultan Of Brunei

Imprimis Has Sold The Florida Planemaker To The Brunei Finance Ministry

Piper has apparently very quietly been sold to one of the world's richest men ... the Sultan of Brunei. The previous owner ... Singapore-based investment holding company Imprimis ... says on its website "We divested our interests in Piper Aircraft and Piper Capital in October 2011."

The revelation comes just after Piper went to the Indian River County government seeking relief from repayment of some incentives it was offered when it opened its Vero Beach plant in 2008. The sale to the Sultan was not mentioned in the request to re-open negotiations on the incentive package.

VeroNews.com reports that in response to an e-mail, Imprimis managing partner Stephen Berger would only say that "Piper is owned by the Government of Brunei." He later said in a prepared statement that all of the management rights and equity interests had been transferred to the Brunei Finance Ministry. Berger also resigned as Chairman of Piper Aircraft Inc.

The changes apparently occurred as Piper was shuffling its top management in mid October. Simon Caldecott replaced Geoffery Berger (Stephen's brother) as CEO, and EVP Randy Groom left the company. In an interview with ANN, Caldecott indicated he was not at liberty to say what had led to the latest top management reorganization. Shortly thereafter, the plug was pulled on the Piper Altaire jet project.

Indian River County Administrator Joe Baird told the paper that he is not worried about the company being owned by the Government of Brunei. He said that he'd be far more concerned if the new owner was not a resource-rich county like the oil-producing Sultanate.

FMI: www.piper.com

Advertisement

More News

Airborne 05.03.16: Solar Impulse 2, SpaceX v Mars, 5000 Section 333 Exemptions

Also: Textron Drone, Aero-Calendar, Aviation Gateway Park, NASA And FAA, R22 Flashcards, MI Av Program, ArcaBoard At the time we put this report together, the Solar Impulse 2 had s>[...]

Airborne 05.03.16: Solar Impulse 2, SpaceX v Mars, 5,000 Section 333 Exemptions

Also: Textron Drone, Aero-Calendar, Aviation Gateway Park, NASA And FAA, R22 Flashcards, MI Av Program, ArcaBoard At the time we put this report together, the Solar Impulse 2 had s>[...]

Airborne 05.02.16: Delta Buys CSeries, Tecnam P2010, Skydiving Competition

Also: Small UAS Rules, Blue Angels/Sully, SpaceX, LOC Accidents, F-35 Program, FlexJet-Flight Options, Airplane Rescue The Bombardier C-Series aircraft program received a major boo>[...]

AD: Mitsubishi Heavy Industries, Ltd. Airplanes

AD NUMBER: 2016-08-19 PRODUCT: Certain Mitsubishi Heavy Industries, Ltd. Models MU-2B-30, MU-2B-35, MU-2B-36, MU-2B-36A, and MU-2B-60 airplanes.>[...]

AD: Piper Aircraft, Inc. Airplanes

AD NUMBER: 2016-08-18 PRODUCT: Certain Piper Aircraft, Inc. Model PA-31-350 airplanes.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC