Post by Dave Homewood on Aug 24, 2006 22:09:04 GMT 12
according to the Waikato Times, but this report seems more favourable...
From Stuff
www.stuff.co.nz/stuff/0,2106,3774294a13,00.html
Alpha targets $5b training aircraft market
24 August 2006
By ROELAND VAN DEN BERGH
Alpha Aviation will target a global fleet of 25,000 aging two-seater training aircraft due for replacement, worth a total of $5 billion - with no immediate competitor in sight.
The Hamilton-based manufacturer announced this week it would be backed into Australian-listed Gregory Australia. Alpha's shareholders would own 51 per cent of Gregory and a dual listing on the New Zealand Stock Exchange was planned.
Alpha has the global manufacturing and marketing rights to French-designed Robin light aircraft, which have been renamed the Alpha 2000 series.
Alpha chairman Graeme Edwards said there were no other makers of aluminium trainer aircraft in the world. United States aircraft manufacturers Cessna and Piper dominated the trainer market till they withdrew in the early 1980s because of onerous liability laws.
As a result the world training fleet largely consisted of Cessna 152s and Piper's Tomahawk was more than 25 years old.
"We see that as a big replacement market," Mr Edwards said. "You can replace the propeller and the motor, but at the end of the day the frame starts to get a bit tired."
He said Alpha shareholders had progressively built a stake in Gregory over about five years.
Gregory was a "turnaround situation. It has had a fairly lacklustre profit history over the years", he said.
Gregory raised A$3.2 million earlier this year for acquisitions to add an electronics and healthcare business to its existing commercial furniture arm.
Alpha would further benefit the group, while also providing access to the Australian capital market to fund future expansion, Mr Edwards said.
Last month Alpha said it would spend $3 million to expand its factory to boost production to 100 aircraft a year.
From Stuff
www.stuff.co.nz/stuff/0,2106,3774294a13,00.html
Alpha targets $5b training aircraft market
24 August 2006
By ROELAND VAN DEN BERGH
Alpha Aviation will target a global fleet of 25,000 aging two-seater training aircraft due for replacement, worth a total of $5 billion - with no immediate competitor in sight.
The Hamilton-based manufacturer announced this week it would be backed into Australian-listed Gregory Australia. Alpha's shareholders would own 51 per cent of Gregory and a dual listing on the New Zealand Stock Exchange was planned.
Alpha has the global manufacturing and marketing rights to French-designed Robin light aircraft, which have been renamed the Alpha 2000 series.
Alpha chairman Graeme Edwards said there were no other makers of aluminium trainer aircraft in the world. United States aircraft manufacturers Cessna and Piper dominated the trainer market till they withdrew in the early 1980s because of onerous liability laws.
As a result the world training fleet largely consisted of Cessna 152s and Piper's Tomahawk was more than 25 years old.
"We see that as a big replacement market," Mr Edwards said. "You can replace the propeller and the motor, but at the end of the day the frame starts to get a bit tired."
He said Alpha shareholders had progressively built a stake in Gregory over about five years.
Gregory was a "turnaround situation. It has had a fairly lacklustre profit history over the years", he said.
Gregory raised A$3.2 million earlier this year for acquisitions to add an electronics and healthcare business to its existing commercial furniture arm.
Alpha would further benefit the group, while also providing access to the Australian capital market to fund future expansion, Mr Edwards said.
Last month Alpha said it would spend $3 million to expand its factory to boost production to 100 aircraft a year.
