Executive Jet Investments Buys Majority Stake In Grob
Swiss-based business aviation company Executive Jet Investments (EJI) last week announced it has acquired the controlling share in German aircraft manufacturer Grob Aerospace. No details or terms of the acquisition were announced, although EJI did say its future operations would be conducted under the Grob Aerospace banner. The deal makes a multinational corporation out of Germany's last remaining independent aircraft manufacturer and solidifies EJI's commitment to the Grob SPn Utility Jet, of which it already owned a 50-percent stake.
According to reports, Niall Olver, who heads EJI operations in Zurich, will be chief executive officer of the new group. Grob Aerospace, part of the Grob Group of manufacturing companies focused on producing machine tools for the automobile industry, has more than 30 years' experience in building military, civilian and business aircraft for markets throughout the world. The investment by EJI should bring a new focus to the SPn Utility Jet, which was first announced at the 2005 Paris Air Show and continues under development.