Execujet Owners Take Over Grob Aerospace

AINalerts » September 19, 2006
November 13, 2006, 5:33 AM

Executive Jet Investments (EJI), a Swiss investment firm led by Execujet CEO Niall Olver, has acquired a controlling stake in German-based manufacturer Grob Aerospace. The Grob family holds the remaining shares, although officials declined to disclose the exact percentage of shares owned by each entity. EJI is simultaneously renamed Grob Aerospace AG. “The SPn Utility business jet program will thus be better integrated,” Execujet marketing director Cédric Migeon told AIN. He clarified that Grob Aerospace AG and South Africa-based FBO/charter company Execujet have many common shareholders. Zurich-headquartered EJI previously held a 50-percent stake in the business jet program and Execujet has been in charge of marketing and sales. Grob Aerospace has been responsible for the development and production of the SPn. The Williams FJ44-powered twinjet is now in flight test from Grob’s base near Munich, with certification still expected early next year. No management change is planned at the German firm, Migeon said.

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