Precision Airmotive Acquired
The assets of Precision Airmotive have been acquired but it will continue under the same name and maintain its production facilities in Marysville, Wash. The company, which makes aircraft fuel injection systems, has been purchased by Turn and Bank Holdings, of North Carolina. Precision Airmotive filed for Chapter 11 bankruptcy last December citing product liability litigation costs from its former carburetor line. At the time it told customers the fuel injection line remained viable and would continue. Turn and Bank President Mike Allen said the plan is to reorganize Precision Airmotive but continue the business as usual. "We are excited about the opportunity this reorganization presents the global general aviation marketplace," said Allen.
Precision Airmotive makes RSA fuel injection systems for the certified market and Silver Hawk EX systems for the experimental market. It also does factory rebuilds and overhauls and supplies parts. "Manufacturing and customer support operations will be conducted under the newly reorganized Precision Airmotive," the company said in a statement.