OTHER NEWS - Oct. 29, 1991
From Times Staff and Wire Reports
Eaton to Purchase Piper: Cyrus Eaton Group International Inc. plans to purchase major assets of Piper Aircraft Corp., said M. Stuart Millar, Piper’s owner. Piper filed for protection from creditors in U.S. Bankruptcy Court in July. The company, based in Vero Beach, Fla., has a backlog of $100 million in orders, but the potential for plane crash lawsuits had scared off potential lenders. Cleveland-based Eaton said it hopes to close the deal by Jan. 15. No price was announced.
