Amphibious Plane Maker Selling Assets
Filed under: Wings
Revo Inc. is once again putting the assets of Lake Aircraft, an amphibious aircraft manufacturer, up for sale. Lake Aircraft makes the only FAA-certified single engine aircraft of its type and has been winding down operations for several years as the owner prepares for retirement. Armand Rivard tried to sell the company several times before. He first sold them to an engineer who created a new company which later closed and the assets reverted back to RIvard. Then in 2005 he tried again, offering Lake's assets at an auction at AirVenture. No bids were made.
There are currently 1,300 Lake-built planes around the world and the company has a small support staff. Lake has been making planes for over 45 years. The price for the assets hasn't been revealed but the new owner would get the FAA certificate, global manufacturing and marketing rights, component and assembly tooling, dies and engineering drawings as well as the help of Lake experts in getting production up and running. Small plane manufacturers are slowing production and cutting staff left and right so this isn't the ideal time to be trying to sell anything to do with aviation but the owner is hoping that someone will want to keep the Lake tradition going.
[via General Aviation News]
