Investment Will Provide Additional Global Access to New Markets
January 18, 2016, Sandpoint, ID….Quest Aircraft Company is pleased to announce that its parent company, Setouchi Holdings, Inc., has signed an agreement with Mitsui & Co., LTD to acquire an equity stake in Quest. The agreement was finalized in Japan on January 13.
“The agreement between Setouchi Holdings and Mitsui will help us further expand Quest’s market globally for the KODIAK by utilizing the relationships that Mitsui has developed,” said Sam Hill, Chief Executive Officer of Quest Aircraft. “They, like Setouchi, are a well-respected company with worldwide business interests in a variety of market segments.”
Setouchi Holdings acquired Quest, which became a wholly-owned subsidiary, in February 2015. The headquarters have remained, and will continue to remain, in Sandpoint, Idaho. This fall, Quest began the construction of a 75,000 square foot expansion which will nearly double its production facility.
“We see continued growth worldwide for the KODIAK, and to efficiently meet this demand, we are expanding our Sandpoint facility,” Hill continued. “The KODIAK is well-suited to a wide variety of missions and we want to further build on our global market penetration. We are enthusiastic about the future and excited about the increased market access we are gaining with our relationship with Mitsui.”
KODIAKs are in operation around the world in over 20 countries in key market segments including personal use, Part 135 operations, government and humanitarian organizations. The KODIAK has received 21 certifications covering 31 countries, with several additional certifications imminent.
Quest Aircraft Company is the manufacturer of the KODIAK, a 10-place single engine turboprop airplane, designed for STOL use and float capability. It offers proven turbine reliability with the Pratt & Whitney PT6 turbine engine, can take off in under 1,000 feet at full gross takeoff weight of 7,255 lbs and climb at over 1,300 feet per minute. Headquartered in Sandpoint, Idaho, the company was established in 2001 and began deliveries of the KODIAK in December 2007. For more information, please visit www.questaircraft.com.
Media Contact: Julie Stone
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