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.
About Janice Wood
Janice Wood is editor of General Aviation News.
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