Advanced Aerodynamics and Structures, Inc. (AASI) has acquired the assets of Mooney Aircraft Corporation.

“With the completion of this transaction, we will be in a position to restore full Mooney production in a few months,” said Roy Norris, chairman and ceo of AASI.

“This is the key step in the process of rebuilding the Mooney product line and in building a major new general aviation company,” he added.