On Friday, Vero Beach, Fla.-based Piper Aircraft said CEO Kevin Gould will assume the company’s presidency effective December 1. The company also announced the promotion of three other Piper executives to vice president titles and another to a senior director position.
Vero Beach, Fla.-based Piper Aircraft on Tuesday said it is delaying first deliveries of the single-engine PiperJet from the fourth quarter of 2012 until the second quarter of 2013. “Our successful efforts to engage a strategic, long-term ownership group coincided with a drastically weakened business environment,” Piper president John Becker wrote in a letter sent to PiperJet customers this week.
Piper Aircraft announced here yesterday that it has selected the touchscreen-controlled Garmin G3000 as the avionics suite for its in-development single-engine PiperJet.Piper emphasized that the G3000’s focus on being intuitive is key to melding with the PiperJet’s goal of avoiding needless complexity and enhancing user-friendliness.
Following the resignation of president and CEO James Bass, Piper Aircraft has promoted two of its senior executives to assume his duties. Kevin Gould, the company’s v-p of operations, has been named CEO, while John Becker, formerly v-p of engineering, became company president. In a statement to company em-ployees, Bass said, “I have successfully completed my mission at Piper and am leaving the company in very capable hands.
American Capital on May 1 sold its entire stake in Vero Beach, Fla.-based Piper Aircraft to Imprimis, a corporate finance and investment management firm that operates from offices in Bangkok, Singapore and Brunei Darussalam. However, the new owners have pledged to keep Piper’s headquarters, production and product development facilities in Vero Beach.
American Capital today sold its entire stake in Vero Beach, Fla.-based Piper Aircraft to Imprimis, a corporate finance and investment management firm that operates from offices in Bangkok, Singapore and Brunei Darussalam. The new owners have pledged to keep Piper’s headquarters, production and product development facilities in Vero Beach.
Vero Beach, Fla.-based Piper Aircraft late last month confirmed that it laid off 150 employees, company CEO Jim Bass told Indian River County commissioners at a general meeting. Further, Bass said Piper could cut more personnel “if it gets worse,” adding that the manufacturer could reduce its production output by up to 40 percent this year due to the slowdown in sales of general aviation aircraft.
Piper Aircraft has notified local Indian River County and Florida state authorities that it is delaying receipt of a second round of incentive money until economic conditions improve, according to a Piper spokesman. The county and state jointly came up with $32 million worth of incentives last year to keep Piper from moving its headquarters and PiperJet manufacturing activities away from Vero Beach, Fla.
Vero Beach, Fla.-based Piper Aircraft today announced a 24-percent increase in third-quarter deliveries and an increase in year-over-year deliveries of 18 percent, resulting in a $25 million increase in billings compared with the same period last year. The manufacturer delivered 195 aircraft worth $150.5 million in the first nine months, compared with 166 deliveries worth $125 million during the same period last year.
Piper announced on July 21 that American Capital Strategies, a minority (about 2 percent) shareholder in the company since 1998, has acquired 94 percent of the Vero Beach, Fla.-based manufacturer’s voting equity. The announcement followed word on July 15 that ACS had secured Piper’s bank debt for approximately $75 million.