Cirrus takes on Cessna in bid for Columbia Aircraft
15 Oct 2007
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Cirrus Design Corporation of Duluth, Minnesota, the world's second-largest manufacturer of single-engine, piston-powered general aviation aircraft, has joined the bidding for the Columbia Aircraft Manufacturing Corporation.
This takes the number of intended buyers for the company to four. Cirrus is a major competitor of general aviation giant Cessna.
Cirrus filed a motion on Thursday 11 October with the US Bankruptcy Court in Portland, expressing interest and saying that Columbia's proposed bidding process unfairly favours the Cessna Aircraft Company.
The two other potential buyers are investment firm Versa Capital Management Inc and high-tech manufacturer Park Electrochemical Corporation.
