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Columbia Aircraft Assets Acquired by Cessna

November 29, 2007 — Assets of the Columbia Aircraft Manufacturing Company were acquired this week by Cessna, which entered the high bid of $26.4 million in an auction held through the United States Bankruptcy Court for the District of Oregon. The Bend, Oregon-based manufacturer produced the high-performance, single-engine Columbia 350 and 400 models. Those will become the Cessna 350 and Cessna 400, adding low-wing, high-performance and turbocharged piston aircraft options to the top end of the Cessna piston product line.

"This is a significant day as it brings together two top aircraft design and production companies to offer the global general aviation community the widest range of propeller aircraft, along with world-class product support, all under the Cessna brand - one of the most trusted names in aviation," said Jack Pelton, Cessna chairman, president and CEO. "I would like to thank the 400-plus Columbia employees for their continued hard work and dedication during the bankruptcy process. We look forward to welcoming them to the Cessna family.

"The Columbia models are a good fit with our existing product line," he continued. "We look forward to providing existing Columbia owners with improved levels of service and support and introducing new customers to these outstanding aircraft."

Pelton said Cessna would make significant investments in Bend, in people, and operations, to bolster customer satisfaction and business profitability. "We will continue to improve quality, reliability and performance as we strive to deliver customer value and fulfill our commitments."

The transaction is expected to close by December 4, 2007, Cessna said in its news release.

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