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Diamond Aircraft will not participate in the TAE Bidding Process

Upon review of the Confidentiality Agreement and Summary Description of TAE, as provided by Insolvency Administrator Kuebler, Diamond Aircraft has decided not to participate in the TAE Bidding Process. The Summary Description, in Diamond's opinion, withholds relevant facts regarding the TAE engines, the TAE customers and the competitive market forces. The restrictions of the Confidentiality Agreement effectively preclude the obtaining of factual and objective information about TAE and its engine development and production, that is vital to the due diligence process regarding the valuation of TAE and the evaluation of the business risks.

The insolvency administrator is continuing his pattern of release of only partial information. Diamond will not participate in such a process.

For background information please contact Mr. Michael Feinig, Managing Director (+43 2622 26700 191).

Press release issued by Diamond Aircraft Industries GmbH on July 14, 2008

 

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Diamond Aircraft Industries GmbH Airframer

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