Investment By New Singapore-Based Parent Company Brings New
Hires, More Resources, Expanded Opportunities
Despite the current economic downturn, the new,
Singapore-based owners of Piper Aircraft say strategic investment
has enabled the company to move forward on many fronts, from the
formation of a new company focused on Asia/Pacific initiatives, to
accelerated development of its product line and other product
programs.
"The Imprimis acquisition was a major milestone for us - one
that is a boon for the company and its future," said Piper
President and CEO Kevin J. Gould. "Over the years, Piper has had
many owners, but few saw the strategic value of this iconic
company. Now, with Imprimis and its strategic sense of what Piper
can be and how it can grow, we have owners the likes of which we
haven't seen since the days when Bill Piper owned the Company."
Imprimis -- a corporate finance and investment management firm
that operates from its offices in Singapore and Brunei Darussalam -
acquired Piper last year with a pledge to take the company to new
levels of performance. `We are making major commitments to
expanding our business and providing top quality aircraft and
service throughout Asia/Pacific, said Mary Messuti, Managing
Director, Piper Aircraft Asia.
Piper's new initiatives in Asia/Pacific were the focus of the
company's news conference held here Tuesday at the 2010 Singapore
Airshow and constituted yet another example of Piper's new focus on
expanding operations in Asia/Pacific with the formation of Piper
Aircraft Asia, Sdn Bhd.
"We have made huge inroads in establishing ourselves in the
Asia/Pacific market," said Messuti, "and our expectation is to
continue significant growth in the region."
Messuti pointed to the following major developments:
- The formation of Piper Aircraft Asia, Sdn Bhd, with
headquarters in Brunei Darussalam.
- The appointment of Allan Bligh - a major general aviation
aficionado and de-facto publisher of AOPA's Australian Pilot - as
Vice President of Marketing for Australia/New Zealand.
- Ongoing plans to set up major sales and service operations - in
addition to head office in Brunei Darussalam - in the
Pacific/Rim and China/adjacent locations.
- Establishment of a flight training academy in Brunei - requests
for Proposals (RFP) are out now with decisions expected soon.
- Ongoing and new fleet sales in the region -i.e., see (in media
kit) Australian Airline Pilot Academy (AAPA), a wholly owned
subsidiary of Regional Express Holdings Limited (Rex).
- Debut of the all-new PiperSport here today in Asia/Pacific
markets and the Light Sport Aviation (LSA) segment as a world-class
aircraft that speaks to Piper's heritage in bringing seminal,
entry-level airplanes to market while offering features and
performance normally found in high-end aircraft.
- Establishing Aviall Services, Inc., a wholly owned subsidiary
of The Boeing Company, to be Piper's global parts distributor,
providing supply chain support for the company's global dealer
network and individual customers.
"Piper is truly committed to expansion of world-class sales and
service globally -with particular emphasis on Asia/Pacific,' said
Messuti. "Imprimis bought Piper to expand its existing businesses
and investments, and facilitate its expansion into General
Aviation, a strategic sector, in which it had been looking to
invest for some time."
Asia's general aviation sales are set to rise beyond its current
global share of five per cent and sales of two- to six-seat
aircraft should grow steadily during the next five years due to
growing wealth and sophistication in Asia and increasing demand for
pilot training from training schools and flying clubs (commercial
and private).
In acquiring Piper, Imprimis executives outlined plans to propel
Piper from its current status as a company with a rich heritage and
reputation for innovation, and expertise in aircraft design,
development and manufacturing, to one that has greater resources
and capabilities to capitalize on opportunities in emerging and
traditional markets.
Prior to its acquisition by Imprimis, Piper - as has been the
case with many companies - had to scale back on the scope and
timing of its research and development programs. Now, however, the
company is back on track with full development of the PiperJet and
other exciting product initiatives.
Among the first actions Piper has taken in implementing its new
strategic direction has been recruitment of new engineering
resources to propel its product initiatives, beginning with the
PiperJet. "Development of the PiperJet, as well as other new
products and innovations, is crucial to Piper's long-term growth
strategy," said Gould, "and Imprimis has earmarked funds to ensure
that we move forward on these vital programs."
Proof of that commitment is evident in Piper's hiring of more
than 50 engineers as it ramps up product development programs to
ensure optimal timing for first deliveries of the company's first
pure, jet-powered, turbofan design in its 72-year history. "We are
in the process of hiring engineers at all levels - from senior to
entry-level professionals - and across all engineering disciplines,
including structures, systems, flight test, and manufacturing,"
Messuti said. "With our new ownership, the acceleration of Piper's
product programs is truly remarkable."
In addition to its product initiatives, Piper executives have
announced that the company is well on its way to international
expansion of dealer bases throughout Asia, Pacific/Oceania,
the Middle East, Europe, Africa, Central America and Caribbean
regions. This expansion is in keeping with the company's new
strategic growth plan.
In acquiring Piper, Imprimis cited international expansion as a
top priority, particularly in Asia, where general aviation sales
are set to rise beyond their current global share of five percent.
Piper sees significant opportunities there given the company's
model mix and the steady growth analysts are predicting for sales
of two-, four- and six-seat aircraft over the next five years - the
result of shifting demographics and increasing demand for pilot
training from training schools and flying clubs (commercial and
private).
Says Gould: "We have a serious game plan, and an ownership group
that is committed to our long-term growth and success."