Piper Aircraft Announces Plans to Expand International Market:
On May 1st, 2009, Piper Aircraft, Inc. announced that Imprimis, a corporate finance and investment management firm based in Bangkok, Singapore and Brunei Darussalem, purchased 100 percent stake in the company from Piper's previous owner, American Capital Ltd. Imprimis cited Piper's considerable growth potential in Asia Pacific, a market that is expected to experience steady growth over the next five years, as one of its top incentives for the acquisition.
That market, estimated at 26% of the world's net-worth, is now the focus of Piper's expansion. In response to the market growth potential, Piper Aircraft announced that the company is currently seeking strategic investment and dealer expansion proposals by representatives in twelve international regions.
Piper Aircraft Inc. continues to be headquartered in Vero Beach, Fla., and Imprimis affirmed its full-commitment to maintaining this local legacy. After 72 years, with over 160 models certified and almost 150,000 aircraft brought to market, Piper continues to show its strength despite the current economic downturn.
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