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| 21 September 2008 |
| Emirates Investment & Development (Emivest) sets its sights high |
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Emirates Investment & Development (Emivest) says it is actively targeting a number of exciting new investment sectors, where its unique business model can be successfully applied. The company also plans further geographic expansion before the end of 2008.
Established in 1997 to capitalise on the phenomenal growth of Dubai, Emivest has built an enviable track record over the last decade, which has seen it mature into one of the foremost investment companies of its kind in the world.
Groundbreaking deals, in the Aviation sector such as the acquisition in June this year, of a controlling 80 per cent interest in San Antonio, Texas-based aviation company Sino Swearingen Aircraft Corporation (SSAC), have helped reinforce this reputation.
“Our entry into the aviation sector is a further demonstration of the ambition and vision of Emivest and heralds the next phase of our ambitious growth plans in different markets and sectors where attractive growth dynamics are on offer,” said Emivest Chairman, Buti Saeed Al Ghandi “We are currently at an advanced stage of negotiation over an investment opportunity that will take the company into new sectors and further expand geographical boundaries of Emivest’s operations.
Mr Al Ghandi added: "Emivest’s board of directors have played critical role in the company development, with their vast experience and skills in transforming our acquisitions into larger, more efficient and ultimately more profitable companies, which in turn makes them more valuable, this is Emivest’s aim for SSCA."
“Based on our successful track record, we are continually challenging ourselves to sustain and improve the growth of our acquisitions, and strategically position ourselves as the business partner of choice internationally,” Al Ghandi added.
Menawhile, Emivest’s Chief Investment Officer, Anthony Power says the acquisition of SSAC highlights how Emivest is more than a venture capital company.
“Development is an integral part of our business ethos, and re-engineering is at the heart of Emivest’s unique business model,” he said. “This has been successfully applied to companies in industry sectors as diverse as manufacturing, financial, service, aviation, telecoms, construction, real estate and food and beverage. By acting as an incubator for our acquisitions we can provide our shareholders with outstanding returns.”
Despite a global economic downturn, the prospects for the business aviation sector are strong. The feeling amongst most of Europe’s corporate aviation movers and shakers at the recent European Business Aviation Conference and Exhibition (EBACE) in Geneva, was that business is strong across the board - even ‘booming’, for charter operators, FBOs, aircraft manufacturers, and maintenance related companies. It was also stated that the introduction of the Very Light Jets and Light Jets will open up an exciting era that should stimulate entry-level customers.
“And this is where the SJ30 will fill a niche in the light jet sector” concludes Mr Al Ghandi.
Since 1963 SSAC became the first company in the United States to design and develop, and later build, certify and deliver to the market a totally new concept business jet in the form of the SJ30. Emivest’s new subsidiary SSAC produces the SJ30, the world’s fastest, longest range and highest flying light jet. The SJ30 is the first aircraft of its kind in the business jet segment to retain sea level cabin pressure at 41,000ft and reach a top flying height of 49,000ft.
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