Piper Has Been Sold

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The new owner of Piper Aircraft Inc., is Imprimis, "a corporate finance and investment management firm that operates from its offices in Bangkok, Singapore and Brunei Darussalam," according to an Imprimis press release. Production and product development facilities will remain in Vero Beach, Fla., according to the new owners. Imprimis stated in a Friday press release that it fully supports PiperJet development and intends to aggressively expand Piper's activities, especially in Asia Pacific, targeting pilot training and both commercial and private flying clubs. Speaking for Imprimis, managing partner Stephen W. Berger said his company is dedicated to growing Piper in existing markets and Asian markets "where much of our focus lies."

He said Piper was, in spite of the worldwide recession, "strong and well-run, with a strong balance sheet" and backed by a "comprehensive product line." Piper currently manufactures seven models from the Warrior III to the Meridian, with a proof-of-concept PiperJet VLJ flying but still in development.