According to Piper, Imprimis intends to invest significant capital in Piper’s current operations to strengthen its position in its traditional markets and support the development of key new products such as the PiperJet.
Imprimis was drawn to Piper because of the significant potential that it sees for Piper to expand its activities into new markets in Asia Pacific, which is expected to experience steady growth for two- to six-seat aircraft over the next five years, in part due to shifting demographics and increasing demand for pilot training from training schools and flying clubs (commercial and private).
Outside of long-term plans for growing market share in Asia, the new shareholders are committed to keeping Piper’s headquarters, productionand product development facilities in Vero Beach, Fla.
“Imprimis brings a level of support that will propel Piper from its current status as a company with a strong heritage, track record of innovation and great potential to one that is growing and pushing the envelope within General Aviation,” said Piper President and CEO James K. Bass. “Imprimis’ commitment to grow Piper in both existing and emerging markets comes at a time when we are poised to enter a new era in aviation history.”
Source and Photo Credit: Piper Aircraft
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