AAI Acquisition, the company formed by Russian investment firm Industrial Investors to buy the assets of bankrupt very light jet developer Adam Aircraft Industries in April, last week revised its business plan to offer engineering and composite manufacturing services to other companies. The move came one month after AAIA eliminated 177 of 209 jobs and suspended flight test and development activity of the A700 very light jet, citing the current unfavorable economic environment. According to AAIA COO Tom Bisges, the company has begun marketing its composite design and construction services to companies in the aerospace industry, custom automotive sector and green energy developers, among others. “Over the past decade this company has developed unique capabilities in its work designing and building new aircraft,” he said. “Now we are expanding our business portfolio to include engineering design, test and certification services, as well as composite product manufacturing and traditional machining.” Bisges said engineering development of the A700 continues at a reduced level, while AAIA is seeking strategic relationships to bring the VLJ to market as the overall economy recovers.
With A700 On Hold, AAIA Markets Composite Expertise
- December 2, 2008, 10:59 AM