Wow, did not see that one coming.


http://news.cirrusaircraft.com/files...-2-28-11-1.pdf


Skyhigh

 

Sad. Superior (parts), Continental (engines) and now an airframe manufacturer that uses the Cont. engines, Cirrus.

I predict the WHOLE thing physically going to China within 5 years.

 

Anyone want to venture a guess why? Access to foreign markets maybe? I did not think Cirrus was having cash problems but maybe that was it?

 

Because the USA aviation world has always been cheap (compared to everywhere else), and we're still in a money crunch, and smart long term planners BUY during cheap buying opportunities.

I'm sure some broker / stock holders made a quick, short term profit on the deals. Look at all the infrastructure sold out of England, to Germany, India, etc.

 

Looks like they have cash/legal problems and have even been partially sold before. I would also venture a guess they want to advance the CirrusJet this year and are feeling the pinch for R&D.

Wiki on Cirrus

 

I hope this pans out...
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Foley Assembling Cirrus Counter-offer

(N. Moll, 3/15/11, Business Aviation) Convinced that he can round up enough U.S. investors to keep Cirrus Aircraft on American soil, consultant Brian Foley is organizing a counter-offer in a bid to trump China’s plan to buy the Duluth, Minn.-based light aircraft builder from majority owner Arcapita (58 percent) and the several hundred individual shareholders who currently own the company. On February 28 Cirrus president and CEO Brent Wouters announced that China Aviation Industry General Aircraft (Caiga) had signed an agreement to purchase all of Cirrus Aircraft. Wouters said then that “Jobs and job growth are staying right here...This is an investment in Cirrus as we know it today” but Foley’s plan suggests this is not an opinion shared by all. Says Foley, “Cirrus is an American success story that started in a humble dairy barn, introduced important new technologies and rocketed to success. What surprised me was the speed, passion and near-unanimity of the feedback we received. I didn’t talk to anyone who wanted to see Cirrus shipped overseas. People want this company to be owned and operated on American soil, period. Foley says he is “confident we can identify and combine enough qualified investors who value Cirrus’s promise as a distinctively American company. Though details of Cirrus’s pending sale to China were not made public, Foley expects the price to be in the $200 million-plus range. At press time, Cirrus founder and ex-chairman Alan Klapmeier just returned from an overseas trip and had yet to be briefed by Foley on this counter-offer.