AVIC International Holding Corporation Acquires the Assets of Thielert Aircraft Engines Out of Bankruptcy
St. Egidien, Germany and Beijing, China 22 July 2013 –AVIC International Holding Corporation (AVIC International) announced today the acquisition through its subsidiary, Technify Motors GmbH, of the diesel aircraft engine and manufacturing assets of the former Thielert Aircraft Engines GmbH (Thielert) to enhance its already strong capabilities in general aviation piston aircraft engine technology.
The acquisition adds the Centurion line of reliable, economical, electronically controlled Jet-A (diesel/kerosene) piston engines to its portfolio of general aviation piston engine technology. Acquired products include the certified Centurion 2.0 series of 135 Hp and 155 Hp Jet-A engines and the certified Centurion 4.0, 350 Hp engine. The Centurions have seen nearly 3,500 units fielded during its almost ten year service history. The addition of the technologically advanced Jet-A fueled piston engines provides a global fuel capability that AVIC International believes will accelerate emerging market adoption of piston powered aircraft.
“AVIC International’s acquisition of Thielert’s assets rounds out the highly successful and popular Continental Motors’ line of gasoline engines acquired by AVIC International in 2011” said Mr. Yu Yimin, Senior Vice President of AVIC International, and Chairman and Chief Executive Officer of Continental Motors, Inc. “It is also the right long-term solution for the market, as this creates a “one stop shop” for both AVGAS and Jet-A engine solutions backed by the global support capabilities of Continental Motors,” he went on to say.
Although the acquisition is structured as an asset purchase, AVIC International will continue its business model of thinking globally and operating locally by remaining in the Saxony region of Germany. The assets acquired include not just the technology, but excellent facilities and manufacturing equipment, which when coupled with the knowledge and experience of the 200 former employees of Thielert provides an excellent base to start operations. Further, AVIC International intends to leverage its other international GA engine operations at Continental Motors, Inc., Mattituck Services, Inc. and Zulu Flight Training to deliver world class technology and service covering both gasoline and Jet-A fueled piston engine technology.
“This acquisition adds excellent engine technology to the Continental Motors’ brand that significantly accelerates product offerings that can compete in the global market,” said Mr. Rhett Ross, Continental Motors, Inc. President. “We look forward to working with our new sister company to become an integrated leader in global aircraft piston engine products”, he went on to say.
AVIC International will operate two manufacturing locations dedicated to piston aircraft engines, including its original Mobile, Alabama site and the new St. Egidien, Germany site. Mr. Kenneth R. Suda, Executive Vice President of Global Operations for Continental Motors, Inc. has been named the Managing Director/President of Technify Motors GmbH and will be responsible for its daily operations. A full line up of AVGAS and Jet A fueled engines covering the 100, 150, 200+ and 300+ horsepower ranges are now available for sale for OEM applications, STC conversions and existing installations through the Continental Motors’ website (www.continentalmotors.aero). AVIC International Holding Corporation was set up in 1979 during the initial reform and open policy period and is itself owned by the Chinese government through Aviation Industries of China (AVIC).
Headquartered in Beijing, AVIC International delivered over 120 billion RMB (€ 14.8B) in revenue in 2012. The company has over 60,000 employees across 400 subsidiaries and is located in over 180 countries. AVIC International is a well-diversified company, with holdings in international civil aviation, Trade & Logistics, Retail & High-end Consumables, Real Estate and Hotel Management, Electronics manufacturing, and Natural Resource Development. More information can be found at www.avic-intl.cn.
Technify Motors GmbH, a newly formed subsidiary of AVIC International, holds the acquired assets of Thielert and operates the business from its headquarter in St. Egidien, Germany. More information can be found at www.continentalmotors.aero.
Continental Motors, Inc., a wholly-owned subsidiary of AVIC International is a leading manufacturer and service provider of certified piston aircraft engines and components used in propeller-driven general aviation aircraft engines for more than 80 years. AVIC International acquired Continental Motors in 2011. More information can be found at www.continentalmotors.aero.
Source: Continental Motors, Inc http://www.trade-a-plane.com/company-search?id=53316