Manufacturing unit of Emivest gets new name |
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Emirates Investment and Development Company (Emivest)Emirates Investment and Development Company (Emivest)
has renamed its aircraft manufacturing subsidiary Sino Swearingen Aircraft Corporation (SSAC) to Emivest Aerospace Corporation.Emivest Aerospace Corporation is a leading manufacturer of light jet aircraft, a rapidly-growing industry sector.
Members of the management team announced the company's strategic direction during a press conference at the National Business Aviation Association 2008 Annual Meeting and Convention in Orlando, Florida, the US.
Emirates Investment and Development Company Chairman Buti Saeed Al Ghandi said: "Emivest's board of directors has played a critical role in the company development, with their vast experience and skills in transforming our acquisitions into larger, more efficient and ultimately more profitable companies, which in turn makes them more valuable. This is Emivest's aim for SSAC."
He said: "Emivest Aerospace Corporation is embarking on a new direction, fuelled by the ongoing commercial acceptance of the SJ30, the light jet with the best range and speed in the industry," said Al Ghandi.
"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. With the Middle East seen as an important market for the SJ30, the Emivest Aerospace will be able to meet the growing demand for business jets," he added.
Anthony Power, CEO, Emivest Aerospace Corporation, said: "The projected growth of the business aviation sector is quite strong throughout the world particularly in the Middle East. The huge growth in the regional aerospace market has cemented Dubai and the UAE's reputation as the region's primary aviation hub, Emivest Aerospace Corporation is positioned perfectly to capitalise on heightened demand in the light jet sector, and our new name symbolises our renewed commitment to innovation-driven growth."
"The Middle East has recorded massive growth across the aerospace's diverse sectors, and is always at the forefront of innovation and expansion. 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.
By Staff Writer
© Emirates Business 24/7 2008
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