VERO BEACH, Fla. (AP) - Piper Aircraft Inc. has been sold, but
the new owners say they plan to keep the company in Vero Beach.
Piper announced Friday that American Capital Ltd. has sold its
100 percent stake in the company to Imprimis in a private
transaction. The Asian firm says it aims to secure the long-term
success of the 72-year-old general aviation company.
A release from Imprimis says the firm is committed to keeping
Piper's headquarters, production and product development facilities
in Vero Beach. Imprimis says it was drawn to Piper because of its
potential for future expansion in Asian markets.
Despite recent economic troubles, Imprimis officials say Piper
has a proven track record of prospering in the face of serious