New Turboprops
Chinese Firm Acquires Epic’s Assets
Composite aircraft builder Epic’s plan for three new turboprop and two light jet models collapsed when the
Composite aircraft builder Epic’s plan for three new turboprop and two light jet models collapsed when the
Chinese Firm Acquires Epic’s Assets
Composite aircraft builder Epic’s plan for three new turboprop and two light jet models collapsed when the Bend, Ore.-based company filed for bankruptcy last year, stranding 12 of its builder-assisted, single-engine turboprop LT kitplanes on the assembly line.
On March 26 of this year a bankruptcy court accepted an all-cash $4.3 million bid from China Aviation Industry General Aircraft, a recently formed government-owned subsidiary of the giant Aviation Industries of China (AVIC), for Epic’s assets, rejecting a competing bid from a group of seven LT kit owners called the LT Builders Group. China Aviation announced its intention to build the former Epic aircraft models in China.
