2013 FEBRUARY / Vol. 5 / No. 2 /
GA
29
Aviation Industry General Aircraft Co. Ltd.
was the highest bidder with a US$4.3 million
offer, beating out a bid by the LT Builders
Group, a group of seven aircraft owners
with incomplete aircraft in the plant. The LT
Builders Group offer was actually US$2.2M
higher than the Chinese bid, but included
US$4M in credit, whereas the Chinese bid
was all cash. Due to the foreign buyer, the
auction was held in two-parts, with Harlow
Aerostructures as a reserve bidder that would
acquire the assets if the US federal government
did not approve the sale to the Chinese
company.
In a letter to the trustee the Chinese
representatives indicate that their plan was to
relocate "all assets ... back to China to develop,
manufacture and service general aviation and
enhance the value of the aircraft models".
Company lawyer, Yan Yang, stated however,
that the company may change its mind.
The hearing judge admonished the LT
Builders Group for their bid describing it as
"pathetic, useless, incompetent, unacceptable,
garbage and fiction" but gave the group another
chance to improve their position and reserved
his decision on the final winner of the auction
until 2 April, 2010 when he issued a judgement
ordering China Aviation Industry General
Aircraft Co. Ltd. to form a partnership with
the LT Builders Group allowing the latter to
run the Bend plant. The deal was completed
by 11 April, 2010, with the LT Builders Group
agreeing to run the plant and market to North
America, while the Chinese company would
market to the rest of the world. The new
company intended to reopen the Bend plant for
builder-assist construction as well as pursue
type certification of the Epic LT.
At AirVenture on 31 July, 2010, CEO Doug
King announced that the company was ready to
take orders for the Epic LT, Escape and Victory
kit at that time and that 11 aircraft were in
plant, being completed by their owners.
Engineering LLC, a Russian company,
purchased Epic in March 2012 and announced
plans to type certify the Epic LT, something
the original owners had started but never
completed. As part of this plan the company
entered into negotiations with Cessna in
December 2012 to buy the 204,000-square-foot
former Columbia Aircraft plant that Cessna
owns in Bend. The deal for the Cessna Aircraft
plant is Epic's second acquisition of the year.
The company acquired a separate 90,000
square foot facility at the airport in April.
The company indicated that it expects
to hire 40-80 new employees in 2013 as part
of the certification effort and to expand kit
production. In late 2009. ·
During January this year Garmin announced FAA TSO authorization and AML STC approval for
the GDL 88 series. The GDL 88 is the industry's first dual-link ADS-B solution available for certified
aircraft. With the AML STC, the GDL 88 is approved for installation on most Part 23 fixed-wing aircraft,
and it will begin shipping immediately starting at $3,995.
Garmin has also received AML STC approval for the latest GTN 3.0 software. This new software
brings expanded capabilities to the GTN series including display support for the GDL 88. It also now
includes support for weather radar, worldwide connectivity, cross fill with the GNS 430W/530W series
and more. This software upgrade is free for current GTN owners and will come standard on new
GTN purchases.
Garmin announces FAA TSO authorization and AML STC
approval for the GDL88 series