Emivest rebrands SSAC, eyes aviation sector
Dubai, October 7, 2008
Emirates Investment and Development Company (Emivest), the majority shareholder of Sino Swearingen Aircraft Corp (SSAC), has rebranded the US-based firm to Emivest Aerospace Corporation signalling its latest foray into aircraft manufacturing sector.
Emivest had acquired an 80 per cent stake in SSAC in June 2008. The re-branding of SSAC to Emivest Aerospace Corporation is effective immediately, and will be reflected in all uses of the corporate brand name, said a top company official.
The new Emivest Aerospace Corporation management team unveiled the company’s strategic direction and new name at a press conference during the National Business Aviation Association 2008 annual meeting and convention in Florida, US.
Emivest Aerospace Corporation is a leading manufacturer of light jet aircraft, a rapidly-growing industry sector.
“Emivest’s board of directors have played a critical role in the company development, with their vast experience and skills in transforming our acquisitions into larger, more efficient and ultimately more profitable companies, which in turn makes them more valuable, this is Emivest’s aim for SSCA,” said Buti Saeed Al Ghandi, chairman of both Emivest and Emivest Aerospace Corporation.
He said Emivest Aerospace Corporation was embarking on a new direction, fueled by the ongoing commercial acceptance of the SJ30, the light jet with the best range and speed in the industry.
“While we have a new name, Emivest Aerospace Corporation will continue to build on our reputation for innovation and high quality in the design, development and manufacture of the world’s finest light jet aircraft. With the Middle East seen as an important market for the SJ30, the Emivest Aerospace will be able to meet the growing demand for business jets,” he added.
Since 1963, SSAC became the first company in the United States to design and develop, and later build, certify and deliver to the market a totally new concept business jet in the form of the SJ30.
Anthony Power, CEO, Emivest Aerospace Corporation, said the projected growth of the business aviation sector is quite strong throughout the world particularly in the Middle East.
The huge growth in the regional aerospace market has cemented Dubai and the UAE’s reputation as the region's primary aviation hub, Emivest Aerospace Corporation is positioned perfectly to capitalise on heightened demand in the light jet sector, and our new name symbolises our renewed commitment to innovation-driven growth,” Power noted.
“The Middle East has recorded massive growth across the aerospace’s diverse sectors, and is always at the forefront of innovation and expansion. We look forward to embracing these opportunities that lie ahead by bringing the SJ30 to market in large scale production,” said Joseph Gullion, COO, Emivest Aerospace Corporation.-TradeArabia News Service