Pilot Magazine | Jun 01, 2008
Thielert bankrupt: Founder Frank Thielert fired by executive board, company to be restructured After three years of investigation, suspicions about the financial health of Thielert Aircraft Engines GmbH (TAE) culminated in late April with the company’s filing for bankruptcy, the termination of founder Frank Thielert as chief operating officer, and a renewed criminal investigation against both Thielert and management board members. At issue is an “urgent liquidity crisis” according to a detailed report in Defense Industry Daily.
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