An agreement for German investors to take over the trainer aircraft activities of the insolvent Grob Aerospace group might have cleared the way for a separate deal to resurrect Grob’s SPn light business jet program. Grob’s insolvency administrator, Dr. Michael Jaffe, yesterday announced a deal under which the Fortius Mittelstandskapital AG financial group backed by H3 Aerospace will assume control of the trainer activities at Grob’s Tussenhausen-Mattsies site in southern Germany, starting on Sunday. The financial terms of this agreement have not been disclosed. Following a creditors meeting in Munich, Jaffe also stated that the SPn program is expected to be taken over by one of Grob’s main creditors backed by some other undisclosed investors. He indicated that SPn development and production work might stay at Tussenhausen-Mattsies and that the separate deal to secure the future of aircraft manufacturing at this site has been a prerequisite for proceeding with any plans to save the SPn. In the first instance, the resumption of training aircraft manufacturing and support will secure about 100 jobs at the former Grob plant. According to Jaffe, Fortius and H3 are committed to expanding the company and increasing employment.
Grob Aerospace Deal Paves Way for SPn Resurrection
- January 30, 2009, 2:18 AM