Pilatus Aircraft Sold to Private Investor Group
(Source : Pilatus Aircraft ; issued Dec. 21, 2000)
Pilatus Aircraft announce herewith that a predominantly Swiss Investor Group has signed a contract for the take-over of the full share capital of Pilatus Aircraft Ltd. The transaction is expected to be completed by the end of January 2001. The intention of the investors is to further develop Pilatus as an independent company and to be ready for an IPO within 3 - 4 years.
Oscar J. Schwenk, the Delegate of the Board of Directors and CEO states with pleasure that the long search for an optimal solution has paid off. The interests of the customers, employees and the region could be fully considered. The new investors believe in the workplace Stans and are convinced that Pilatus continues to compete successfully in the international markets.
The current company management board headed by Oscar J. Schwenk will lead Pilatus also in the future. Peter Küpfer and Oscar J. Schwenk will continue as Chairman of the Board and Delegate of the Board respectively. Information concerning further appointments to the Board will follow at a later date.
The Investor Group consisting of:
**Dr. Joerg Burkart, a Swiss national held leading management positions overseas for Credit Suisse. Since a few years he acts as private Investor focused on Swiss corporations. Amongst other companies, he holds interests in Komax and Schulthess.
**Mr. Hilmar Hilmarsson is a national of Iceland. He established two successful companies in Iceland: an auction firm for the fishing industry and a specialized air charter company. He sold both companies successfully. Today he lives in Switzerland.
**IHAG Holding AG in Zurich, is the private bank of the Bührle family and is managed by Gratian Anda. Mrs. Anda-Bührle has a long standing and excellent relationship with Pilatus.
**The Pension Fund of F. Hoffmann-La Roche AG in Basel, is well known as an active Investor especially in Swiss Caps.
Pilatus Aircraft Ltd. is the leading manufacturer of single engine turboprop aircraft worldwide and exemplary amongst the European Aviation industry. The headquarter at Stans employs about 1,000 persons.
With its subsidiaries in the United States (Pilatus Business Aircraft, Broomfield Colorado) and Australia, Pilatus mark its worldwide presence. TSA Transairco S.A., located at the International airport in Geneva is a wholly owned company and is specialized in the maintenance of business jets. In the three Business Units Government Aviation (training aircraft), General Aviation (PC-12) and Maintenance, Pilatus expects for the first time a turnover of more than half a billion Swiss Francs. The company enjoys a healthy rate of growth, only back in 1993 the turnover was 158 million Swiss Francs.
With the most successful introduction of the PC-12, Pilatus achieved its goal to diversify and to offset the volatile business inherent with training aircraft. Today, the Business Unit General Aviation generates 75 % of the turnover. With more than 300 PC-12's sold worldwide, Pilatus is well established now in the General Aviation market. With more than 100 PC-12's sold during this year, the backlog is most encouraging. It is planned that about one hundred employees will be added in 2001 to the present workforce to cope with the expected growth.
Pilatus aims and works towards its future. The PC-21 project for a new, hightech training aircraft has already passed more than half of its development phase. Highly qualified co-workers develop and build the training aircraft of the future. Next milestone will be the roll-out at the end of 2001.
With the sale of Pilatus Aircraft Ltd. UNAXIS has taken another step towards the declared new orientation of the former industry conglomerate. The management of the Pilatus is confident that there will be room for rapid development of the company.