Thielert Says 24 Bidders In Line

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The insolvency trustee for Thielert Aircraft Engines says there has been major interest in acquiring the company's assets. Spokesman Sebastian Glaser said "24 prospective buyers have so far expressed their serious interest by signing a confidentiality agreement." He said the process moves to the next phase in which the interested parties, many of them aviation-related, will get access to detailed financial records. "The uncommonly large number of potential buyers shows that Thielert is seen as an attractive investment in the industry," said insolvency administrator Bruno K bler.

Thielert says it's also boosting the credibility of the company by hiring Prof. Gunter Kappler as "Accountable Manager." In that role he'll be responsible for aviation safety issues concerning the engines from initial development to regulatory compliance. "It lets potential buyers know that they would be acquiring a solidly managed company in terms of technology that operates in compliance with national and international aviation safety rules," according to the company.