28 August 2001
28 August 2001
Crescent Capital Investments, Inc. has arranged for the acquisition through its affiliates 61% ownership of Cirrus Industries, Inc., the second largest manufacturer of single-engine, piston-powered, general aviation aircraft in the world.
Cirrus Industries based in Duluth, Minnesota, is known for innovative design, construction, and attention to safety. Cirrus developed the first production airplane that contains its own parachute. If an airplane experiences engine trouble, the pilot or any passenger can deploy the parachute, which allows the entire aircraft to float to the ground.
Cirrus aircraft are produced primarily from composite materials, incorporating resin-impregnated fiberglass, instead of older traditional techniques of cutting and riveting aluminum sheets to a metal frame. Composite construction contributes to superior aerodynamics, which results in better performance. The planes are easier to fly due to advanced avionics and advanced autopilot technology incorporated into each aircraft. Ergonomically, the plane's interior is similar to a luxury automobile.
Cirrus aircraft were named one of ""America's 50 Best Products"" and Best Private Airplane by Forbes Magazine. The aircraft have received numerous design awards .
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