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RSTW
ANNOUNCES EXIT OF SUPERIOR AIR PARTS INVESTMENT:
THIELERT
AG ANNOUNCES THE COMPLETION OF THEIR ACQUISITION OF SUPERIOR AIR PARTS, INC.
Coppell
,
Texas
and
Hamburg
,
Germany
(March 31, 2006) –– On March 13, 2006 Thielert AG had announced that it
was exercising its option to purchase all the outstanding shares of Superior
Air Parts, Inc. The company announced today that it has completed the purchase
by acquiring all of the outstanding shares of Superior Air Parts for an
undisclosed amount of cash.
"As
we see it the combination of the two companies will create a truly global
entity in the general aviation aircraft piston engine market,” Frank
Thielert, CEO, Thielert AG said. “Thielert’s reputation and ability as an
innovator in state-of-the-art design and manufacturing and
Superior
’s reputation for exceptional quality and customer service will give us
considerable advantages over the competition.”
“On
the product side, this new relationship will allow us to utilize the inherent
strengths of both companies to expand
Superior
’s already industry leading product line,” he added. “From our new
CENTURION 1.7 jet fuel piston engine to
Superior
’s FAA certified Vantage Engine, and XP-360 Engine for the sport aviation
market, no other company will offer the availability of diesel, auto-fuel and
avgas certified piston engines to aircraft manufacturers and as retrofits to
current aircraft owners.”
“One
of Thielert’s major strengths is their ability to create products that are
not only innovative but are significant improvements over existing
components,” added Timothy T. Archer,
Superior
’s President and CEO. “During our long relationship with Thielert we have
experienced that ability and talent first hand.”
“Thielert
has been the R&D and manufacturing talent behind a number of
Superior
’s industry-leading products like our new ESR Crankshaft, our roller/lifter
engine, and our new-generation Millennium Standard Cast Cylinders,” he
continued. “Working so closely with Frank (Thielert) and the rest of his
team brought out many similarities and synergies between the two companies.
Now that we are part of the Thielert Group,
Superior
can take even greater advantage of their German engineering and multi-million
dollar manufacturing facility to create new-generation piston engine products
based on the latest designs, materials and production capabilities.”
Thielert
said that under the terms of the agreement,
Superior
would operate as an autonomous company under Thielert AG. “As far as
Superior
’s distributors, aftermarket and OEM customers are concerned, nothing will
change. Their management team and sales and support organization will remain
the same,” he explained. “In fact, we see it as a big advantage creating a
major opportunity for both OEM and aftermarket sales.”
In
addition to the development, certification and manufacturing of the CENTURION
1.7 jet fuel piston engine and its derivatives, Thielert also prototypes and
manufactures innovative parts for high-performance engines in addition to
digital engine control systems. The company also develops manufacturing
strategies for engine components and complete engine adaptations for the
automotive engineering, defense technologies, and aviation industries.
Along
with being offered as a factory engine on the Diamond DA40-TDI Diamond Star
and DA42-TDI Twin Star aircraft, the CENTURION 1.7 jet fuel piston engine has
also received FAA and European Aviation Safety Agency (EASA) approval as a
retrofit option on many models of Cessna’s 172 aircraft. Thielert is also
working on a similar program for the Piper PA-28 series and expects to have
certification soon.
Superior
Air Parts, Inc., is the manufacturer of the new FAA certified Vantage Engine.
The company is also world’s leading manufacturer of FAA approved aftermarket
cylinders and replacement parts for Lycoming and Continental aircraft engines.
In addition, the company manufacturers the XP-360 Engine family for
experimental and sport aircraft builders. For more information call,
972-829-4609. Web: www.superiorairparts.com
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