in ,

China’s Wanfeng Aviation Finalizes Purchase of Diamond Aircraft Group

Chinese Company Announces Plans to Expand Production

Photo Raimond Spekking CC BY-SA 4.0

Wanfeng Auto Holding Group of China has completed the acquisition of Diamond Aircraft Group and announced plans to expand production including researching, developing and designing new aircraft.

Wanfeng Chairman Bin Chen expressed enthusiasm in his commentary about future plans for Diamond, saying “We were attracted to Diamond’s leadership position in the market. Based on this excellent foundation, we intend to take Diamond to a long-term leadership position in worldwide general aviation.” Wanfeng is one of China’s largest companies. Few would argue that it has the resources to take Diamond to the next level.

Mr. Chen stated that the company will work to increase sales globally and place a greater emphasis on the U.S. marketplace. Last year, Wanfeng acquired a 60 percent share of Diamond’s Canadian operation. This week’s announcement did not mention the Canadian operation’s role in the new venture.

Ex-Chief Executive officer Christian Dries commented, “I look forward to seeing Diamond develop further and based on our successful year-long partnership in Diamond Canada, I am fully satisfied that I leave Diamond in very good hands.”

China’s expanding general aviation footprint

China has been expanding its aviation footprint. In 2013, for the first time a Chinese real estate development company, Meijing Group, acquired Mooney Aviation. Mooney had been manufacturing light aircraft until being forced to cease production in 2010. The investment from Meijing Group allowed Mooney to restart production at its plant in Kerrville, Texas.

China owns other aviation companies including plane maker Cirrus, Superior Air which makes aircraft components, Brantley and Enstrom helicopter manufacturers and engine manufacturer Continental.

What do you think?

0 points
Upvote Downvote

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Loading…

0
Kim Clark

Written by Kim Clark

Former CNN Radio News Network anchor Kim Clark is a freelance writer and editor, specializing in the aviation industry and financial markets. She currently freelances for S&P Global and works as a club and event Disc Jockey in Atlanta, Georgia, after having held positions doing news on radio morning shows and holding down the position of Music Director of commercial radio stations owned by Cumulus and Clear Channel.

B-52 Aircrews Used To Air Refuel In Crazy Bank Angles Just To Prove They Could

Rare Footage of mid-1960s Navy Med Cruise On USS Saratoga