Cirrus Design has increased its stake in emergency aircraft parachute company Ballistic Recovery Systems (BRS) to 15.3%, by exercising its options on an additional 650,000 shares of BRS stock. The option was triggered during the last financial year when sales of BRS parachute systems to Cirrus, manufacturer of the SRV, SR20 and SR22 piston singles, exceeded the original contract goal. Cirrus is now the second largest BRS shareholder. This is the last of four sets of options granted under a volume purchasing contract signed in September 1999, says BRS.
Source: Flight International
