Shandong Weifang an excellent aero-engine company’s acquisition of U.S. company

The United States great aero-engine company was founded in 1967, is a general aviation engine manufacturers and engine spare parts detection and suppliers, is the world’s larger general aviation piston engine spare parts manufacturers in Germany T. AG, a subsidiary of the company. By the world financial crisis, Germany T. AG and its subsidiaries outstanding at the beginning of this year the company entered bankruptcy protection proceedings. The company has a good engine system products and accessories for R & D capabilities, infrastructure technology, stability, and a unique detection method. The main type of production general aviation piston engine and its accessories have been endorsed by the U.S. Federal Aviation Authority and the airworthiness authorities in Europe and Canada related to certification. As of May 31, 2009, the company’s total assets of about 18.79 million U.S. dollars, current assets total 16.93 million U.S. dollars. Among them, 3.94 million U.S. dollars in cash balances, receivables and prepayments 5.48 million U.S. dollars, 7.51 million U.S. dollars inventory, fixed assets of 1.86 million U.S. dollars.

Tianxiang Aviation Technology, Inc. paid for the acquisition of 10 million U.S. dollars, of which seven million U.S. dollars stock exchange, another three million U.S. dollars are used to great company to resume production.

Weifang Tianxiang Aviation Industry Co., Ltd. China Weifang Tianxiang Aviation Technology Co., Ltd. shareholders of the successful completion of the U.S. aero-engine company’s outstanding 100% of the tender offer. Prior to the United States Bankruptcy Court issued a formal acquisition of the final award. Tianxiang Aviation Technology, Inc. This acquisition, in order to create a general aviation industry base, Weifang has laid a solid foundation.