Emirates Investment & Development Company (Booth 5682), the majority shareholder of Sino Swearingen Aircraft Corporation (SSAC), unveiled a new company name at the show yesterday.
SSAC will now be known as Emivest Aerospace Corporation (EAC). Emivest acquired an 80% stake in SSAC, creator of the SJ30 aircraft, in June 2008, with Taiwanese investors and Ed Swearingen holding the remaining 20%.
“Emivest Aerospace Corporation is embarking on a new direction, fueled by the ongoing commercial acceptance of the SJ30, the light jet with the best range and speed in the industry,” says Buti Saeed Al Ghandi, chairman of both companies.
Emivest is a Dubai-based private shareholding equity investment company that actively targets new investment sectors. Anthony Power, EAC’s chief investment officer, says: “We have been looking across the sector itself and have not seen anything else where we could kick-start Emivest. The projected growth of the business aviation sector is strong throughout the world and EAC is positioned perfectly to capitalize on heightened demand in the light jet sector.”
Emivest also committed to bringing the SJ30 to market. “We look forward to embracing these opportunities that lie ahead by bringing the SJ30 to market in large scale production,” says chief operating officer Joseph Gullion.