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Sino Swearingen sale near completion

Sino Swearingen sale near completion

Action Aviation Investors is expected to complete by the end of the month its acquisition of struggling start-up Sino Swearingen Aircraft (SSAC). After investing more than $ 700 million in SSAC, the Taiwanese backers sold a majority controlling interest in the San Antonio, Texas-based company late last year to the investment group - a joint venture between the SSAC´s largest distributor, Action Aviation and ACQ Capital. A industry source says the new company was formed by Action Aviation to safeguard the future of the SJ30 aircraft programme.

Action Aviation is convinced that the sale will be a turning point for SSAC, which has encountered numerous problems since the certification of its SJ30 light jet in October 2005.

According to Flightglobal.com

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