Thielert Enters Stock Market
Thielert, the German company that has attracted a lot of attention with its diesel engines for small aircraft, now is offering shares in the stock market. The company made its initial public offering on Nov. 17, with a share price of 13.50 Euros, and rose 2.2 percent on the first day of trading. Interest in diesel power has been growing, since the engines are efficient and economical, and sales rose 55 percent in the first nine months of this year. The U.S. military has ordered engines from Thielert for Unmanned Aerial Vehicles. Diamond uses them in its DA40 and DA42 TwinStar. The IPO was expected to raise as much as $173 million, which the company plans to invest in expanding in the U.S. Theilert says its Centurion 1.7 diesel engine offers much lower operating costs than traditional avgas engines. The diesels are certified for installation in many common small aircraft including the Cessna 172 and Piper PA28. The FAA certified the engines in October 2003, and they are also certified in Europe and China, which Thielert says all together covers 90 percent of the world market.