The buyers have wasted no time in appointing a new CEO.
Troubled Hamilton aeroplane manufacturer Pacific Aerospace has been bought out of liquidation by the owners of Mercer Airfield.
Palms on George, owned by Pukekohe-based Neil Young and Dee Bond, also operates the Tuakau Bridge Motorhome Park, Mercer Motel and Mercer Landing restaurant.
The owners are both from an aviation background.
Mercer Airfield is largely used for skydiving, a major application of Pacific Aerospace’s aircraft, alongside agriculture.
The aircraft company went into liquidation in February with more than 250 creditors and owing at least $42.9 million.
In an email obtained by