Kate Sarsfield/LONDON
Pilatus Britten-Norman (PBN) has been sold to a private investment company for an undisclosed sum, ending months of speculation over the utility aircraft manufacturer's future.
London, UK-based Litchfield Continental has acquired PBN from Switzerland's Pilatus Aircraft, which has owned the Bembridge, Isle of Wight-based aircraft manufacturer for 18 years.
Litchfield Continental says the deal is part of a wider strategy to broaden its product base, which includes pharmaceuticals, property, marine and mining. It is also believed to have existing investments in aviation, but declines to reveal details.
PBN will now revert to its former title Britten-Norman and will "-continue to design, manufacture and support" the 10-seat piston and turboprop-powered BN-2B/T Islander and the 16-seat Defender 4000 aircraft.
"Having struggled with a cyclical income in aircraft sales for many years, we now hope to smooth out those peaks and troughs by expanding into other areas," says Paul Bartlett, Britten-Norman's new joint managing director.
Under the new ownership, Britten-Norman plans to offer finance and leasing packages and to establish a "strong" maintenance base. "We hope to become a classic one-stop shop for a range of aviation services, with the goal of building more aircraft," adds Bartlett.
Litchfield Continental becomes the fourth owner of Britten-Norman in its 50-year history.
Source: Flight International
