A majority interest in Czech manufacturer Moravan, producer of the Zlin aerobatic, agricultural and training aircraft, has been sold to US company SDC International.
SDC has agreed to pay $16 million for 55% of Ostrokovice-based Moravan as the first step in its strategy to acquire manufacturers of industrial and transportation products in Central and Eastern Europe. The US company is also bidding to take control of Czech truck manufacturer Tatra.
The firm says that it plans to develop a "global marketing strategy" for Moravan's line of single-, two- and four-seat light aircraft, while working with the Czech ministry of defence on new trainer designs.
The Czech company is profitable, but undercapitalised. SDC says it plans to inject working capital into Moravan to enable it to accelerate production to fulfil an order backlog worth $40 million, including a $20 million order for Zlin trainers received from the Egyptian air force in August.
Moravan subsidiaries make cargo containers and aircraft components for companies such as Air France and Aero Vodochody.
Source: Flight International
