Remos Restructuring Manufacturing Arm
Remos Aircraft, which has been aggressively marketing Light Sport aircraft in the U.S. of late, will issue a statement later today concerning restructuring of its German manufacturing business. The company filed a notice of insolvency (definition - PDF) with German authorities 10 days ago but that's not as dire as it sounds according to Ken Weaver, executive vice president of marketing and communications for the three companies that make up the Remos group. In fact, he said, it's the foundation for the development for new programs that will be announced in 2010. "This is not a bankruptcy," he said. "It is a procedural option that is open to us under German commercial law that will allow us to launch these programs in 2010." Legal considerations prevented him from providing more detail in time for AVweb's publishing deadline.
Weaver said the move allows Remos to make changes to its corporate structure necessary to carry out its future plans. He said there is no equivalent in U.S. commercial law so the action has been misinterpreted as a collapse of the company. Weaver said that, in fact, the restructuring will lead to even greater accessibility to its products in the future as part of a resurgence of interest in general aviation. AOPA chose a Remos light sport aircraft as its sweepstakes prize for the coming year.