Kuebler Calls Planemaker's Statements "Noise"
It's about to get ugly... well, make
that uglier... in
the ongoing, bitter battle between
Austrian/Canadian aircraft manufacturer Diamond Aircraft and
Germany's Thielert AG. Diamond announced Friday it may form a
bidding group to take control of the troubled enginemaker after it
files for insolvency.
According to Reuters, Diamond expressed interest in forming a
partnership with other general aviation aircraft manufacturers that
similarly rely on Thielert's diesel powerplants. "One could form a
consortium with Cessna and Piper and take over Thielert," Diamond
CEO Christian Dries said, adding the planemaker is willing to
invest nearly $79 million in such a partnership. "One could also
bring in a financial investors."
Dries admitted initial talks with potential investors haven't
been successful, but he still believes an investor could be found
to purchase Thielert outright, then lease its assets back to such a
Representatives with Cessna and Piper Generalvertretung
Deutschland AG, the German unit of Piper Aircraft, declined to
comment on the matter... but Bruno M. Kuebler, the insolvency
administrator charged with sorting out the ruins at Thielert,
definitely had some choice words about what he called a
"As the officially appointed insolvency administrator, I have a
clearly defined mission: to achieve the best possible outcome for
the creditors, the company, and also its employees," Kuebler said.
"Anyone who tries to exert public pressure in hopes of gaining an
advantage will not get far.
"On the other hand, everyone is perfectly welcome to participate
in the bidding process," he added. "In the coming week, I will be
meeting with more than 50 prospective buyers, and will go through
the various steps of identifying which of them are suitable
investors. Only then will I be able to begin concrete purchase
negotiations. Ultimately, the winner will be whoever tenders the
most favorable bid -- not the one who makes the most noise."
Kuebler then added that despite industry reports of an
approximately $158 million pricetag for Thielert, he has yet to
establish a price for the enginemaker's assets. He called such
claims "an ongoing disinformation campaign."