Grob Aerospace insolvency administrator Dr. Michael Jaffé announced today that two companies have expressed interest in taking over the German aircraft manufacturer. The interested parties include little known H3 Aerospace from Munich, headed by Johann Heitzmann; and Chinese manufacturer Guizhou Aviation Industry Corporation (GAIC), part of the giant state group AVIC I that makes fighters, the ARJ21 regional airliner, Airbus subassemblies and many other aircraft and automotive components. Both offers are still tentative, and the winner will be selected before year-end by a creditors’ committee for further negotiations. The bidders are interested primarily in Grob’s trainers, which provided the bulk of the company’s business in the past. Both contenders are offering around $4.5 million for the trainer business, and GAIC might offer an additional $3.5 million for the SPn after further investigation. Piston-powered Grob basic trainers are in service with several major air forces, including the British Royal Air Force, which is interested in ordering an additional batch. At press time, the fate of the SPn business jet remains uncertain. According to the insolvency administrator, negotiations are continuing with other interested parties, but the outlook for a seamless continuation of the SPn program is bleak.
Two Buyers Interested in Acquiring Grob
- December 16, 2008, 11:18 AM