Hopes of restarting production of the OMF Symphony light aircraft have been raised by the sale of the bankrupt firm's assets to another German company, SMW. Separately, bids for its North American unit, OMF Aircraft, were to be submitted by 13 April.
When Trollenhagen-based OMF filed for bankruptcy protection in December last year, the North American company was put in receivership by controlling shareholder Société Générale de Financement du Quebec (SGF). The venture capital of the Quebec government, SGF provided C$3 million ($2.2 million) towards the setting up of OMF Aircraft last year.
The management team from the North American company, headed by former president Paul Constazo together with a lead investor, has submitted a bid to acquire OMF Aircraft's assets and relaunch Symphony production at Trois-Rivières. Operating as Symphony Aircraft Industries, the team has signed an agreement with SMW on marketing rights.
Source: Flight International
