New bidder for SJ30 jet

The SJ30 twinjet saga has taken another interesting twist in the wake of last year’s bankruptcy filing of the aircraft program’s current owner, Emivest Aerospace, according to a report from Aviation International News, which notes that the parent company of one of the SJ30’s airframe parts suppliers, Metalcraft Technologies of Cedar City, Utah, has emerged as a “stalking horse” bidder for Emivest’s assets and has submitted a purchase agreement to buy the manufacturer for $7.625 million. A stalking horse bidder is selected by the bankrupt company to set a minimum price for assets in an attempt to dissuade “low ball” offers, the AIN report explains.