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Grob Aerospace files for insolvency
Industry news
Grob Aerospace files for insolvency
Grob Aerospace’s spn carbon composite business jet.
GROB AEROSPACE GmbH in Germany says it has been forced to file for insolvency due to delays in its spn carbon composite aircraft programme. The delays in the spn programme for business and special mission aircraft, such as air ambulances, has resulted in an increased requirement for cash to see the programme through
12
REINFORCEDplastics
to certification. However, the current loan provider has decided to discontinue its financial support. Niall Olver, Chief Executive Officer at Grob Aerospace, remains optimistic, however, saying “all possible alternatives are being evaluated” and that he is confident the disruption can be overcome.
October 2008
"The company spirit, the support we have received from employees, suppliers, customers, fellow stakeholders and the media demonstrate a significant interest in Grob remaining in business...," Olver adds. The company, which is headquartered in Zurich, Switzerland, but has its manufacturing and assembly facility in TussenhausenMattsies, Germany, has built composite aircraft since 1971. As late as January this year, the company was awarded the development of the all-composite structure of Bombadier’s Learjet 85 aircraft (see Reinforced Plastics, February 2008, page 4). Grob Aerospace; www.grob-aerospace.net
People 3B, the Fibreglass Company (www.3b-fibre g lass.com), which was created in April 2008 from Owens Corning’s divested facilities in Battice, Belgium, and Birkeland, Norway, has appointed Hugues Jacquemin as its Chief Executive Officer. He previously worked for 3B owner Platinum Equity where he was involved in the acquisition of 3B. The recently formed company has also appointed Pierre Josselin as its Chief Operating Officer. Josselin is also a former employee of Platinum Equity where he was responsbile for, the operation aspects of the 3B acquisition.
Grob Aerospace files for insolvency
Grob Aerospace’s spn carbon composite business jet.
GROB AEROSPACE GmbH in Germany says it has been forced to file for insolvency due to delays in its spn carbon composite aircraft programme. The delays in the spn programme for business and special mission aircraft, such as air ambulances, has resulted in an increased requirement for cash to see the programme through
12
REINFORCEDplastics
to certification. However, the current loan provider has decided to discontinue its financial support. Niall Olver, Chief Executive Officer at Grob Aerospace, remains optimistic, however, saying “all possible alternatives are being evaluated” and that he is confident the disruption can be overcome.
October 2008
"The company spirit, the support we have received from employees, suppliers, customers, fellow stakeholders and the media demonstrate a significant interest in Grob remaining in business...," Olver adds. The company, which is headquartered in Zurich, Switzerland, but has its manufacturing and assembly facility in TussenhausenMattsies, Germany, has built composite aircraft since 1971. As late as January this year, the company was awarded the development of the all-composite structure of Bombadier’s Learjet 85 aircraft (see Reinforced Plastics, February 2008, page 4). Grob Aerospace; www.grob-aerospace.net
People 3B, the Fibreglass Company (www.3b-fibre g lass.com), which was created in April 2008 from Owens Corning’s divested facilities in Battice, Belgium, and Birkeland, Norway, has appointed Hugues Jacquemin as its Chief Executive Officer. He previously worked for 3B owner Platinum Equity where he was involved in the acquisition of 3B. The recently formed company has also appointed Pierre Josselin as its Chief Operating Officer. Josselin is also a former employee of Platinum Equity where he was responsbile for, the operation aspects of the 3B acquisition.