Press Release
Issued by SyberJet Aircraft.
October 5, 2008
Emirates Investment & Development Company PSC (Emivest), the majority shareholder of Sino Swearingen Aircraft Corporation (SSAC), today unveiled a new company name – Emivest Aerospace Corporation – signaling its latest expansion into the aircraft manufacturing sector.
Members of the new Emivest Aerospace Corporation management team announced the company's strategic direction and new name during a press conference at the National Business Aviation Association 2008 Annual Meeting and Convention in Orlando, Fla.
Emivest Aerospace Corporation, formerly SSAC, is a leading manufacturer of light jet aircraft, a rapidly-growing industry sector.
"Emivest Aerospace Corporation is 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," said Buti Saeed Al Ghandi, Chairman of both Emirates Investment & Development Company PSC and Emivest Aerospace Corporation. "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."
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. Emivest Aerospace Corporation is positioned perfectly to capitalize on heightened demand in the light jet sector, and our new name symbolizes our renewed commitment to innovation-driven growth."
"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.
Emivest acquired an 80 percent 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.
