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Tuesday, 14 Dec 2010

New investor process for Thielert

The insolvency administrator of aircraft engine manufacturer Thielert Aircraft Engines GmbH, Bruno M. Kübler, has launched a new investor process for the company.

The German global market leader for diesel piston aircraft engines has sustainably returned to profitability and has made significant technical improvements to its engines. The company also stands to benefit from the anticipated revival in the general aviation industry.

"It is a very good time to start seeking a new investor," said administrator Bruno M. Kübler. "Thielert is a reorganised, healthy company and is the global market and technology leader for general aviation diesel engines. At the same time, overall economic conditions are improving, and the 'big players' are starting to invest again in order to take part in this upswing." Thielert Aircraft Engines GmbH has been under administration by Kübler since 2008.

Despite the good progress made in reorganising the company, the first investor process came to a standstill as a result of the global financial crisis. Accordingly, Kübler focused on taking the company back to profitability and developing and improving engines. Thielert has returned to sustainable profitability and has been in the black since the beginning of 2009. The company's fuel-efficient, highly reliable Centurion engines are used both in civil aviation and as engines for reconnaissance drones (UAVs).

"The acquisition of THIELERT would give any potential investor the opportunity to access the market immediately with a highly innovative and profitable company, and with the prospect of capturing a rising market share of the aircraft engine sector in the long-term," emphasizes Kübler. This is further aided by the current drive in general aviation to find alternative fuels to replace the conventional aircraft fuel "Avgas". THIELERT was the first company in the world to receive approval for diesel/kerosene piston engines, and as the market leader has a vast head start in terms of experience and development expertise. "Aviation experts are unanimous that the proportion of diesel/kerosene engines is set to rise globally in general aviation," said Kübler. "The prospect of this kind of market development makes the acquisition of THIELERT exceptionally attractive for investors."

Over the course of the current year THIELERT has achieved key milestones in technical engine development. For instance, following a period of intensive research and development, the life time of the CENTURION 2.0 engine was increased to 1,500 hours, and newly developed clutches and engines with a life span of 600 hours were shipped. The operating costs of the engines were lowered even further and cost efficiency was again increased. The CENTURION engines also received approvals for new aircraft types (including the popular Cessna 172) and for new markets, including Japan, Brazil and Eastern Europe. In September the 3,000 CENTURION engines operated worldwide passed the milestone of over 2.5 million flight hours logged, making CENTURION engines the most widely flown diesel aircraft engines in the world by far.

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