Akoya LSA Amphib Finds Chinese Backing

  • E-Mail this Article
  • View Printable Article
  • Text size:

    • A
    • A
    • A

LISA Airplanes, which showed off its $350,000 amphibious Akoya LSA in July at AirVenture Oshkosh 2012, then faced financial difficulties by August, has now said it will accept a $20 million takeover bid from Chinese investors. The Bureau of Commerce in Leshan City, China, says investors from the Heima Mining Company offered $20 million for a 75-percent stake in the French light airplane manufacturer. The transaction would see the Mining company, which trades in phosphate rock, appoint its own representative as LISA's new chairman.

LISA's founder, Erick Herzberger, told LeFigaro.fr that he hopes to maintain production control and to resume work with a team of 15-20 people. The company was forced to lay off 15 employees after suffering cash flow problems. According to ChinaDaily.com, the new investors will help create up to two more production lines in France. The Akoya offers sleek lines and folding wings at a $350,000 initial price tag. According to Heima, the company has ten orders on the books. Heima says it plans to seek additional acquisitions in the field of aviation, including sales and maintenance services. The company reportedly does not hold large cash reserves. According to ChinaDaily, its registered capital is roughly $85,000. However, an official quoted by the news organization said "the company used self-raised funds to pay for the acquisition," and its assets are more extensive.

Related Content: