China’s Wanfeng Auto Holding Group announced it has completed the acquisition of Diamond Aircraft Group, just a year after it acquired a 60 percent share of Diamond Canada. The company said the move will have a significant impact on Diamond’s long-term future and increased global sales. When it announced last year’s cash infusion to Diamond, Wanfeng promised globally expanded production, sales and support, as well as a stronger focus on the U.S. market.
Diamond Aircraft Purchased by Wanfeng Aviation
Key Takeaways:
- China's Wanfeng Auto Holding Group has completed the full acquisition of Diamond Aircraft Group, following an earlier acquisition of a 60% share in Diamond Canada.
- Wanfeng aims to significantly impact Diamond's long-term future, increase global sales, expand production, and strengthen its focus on the U.S. market.
- Wanfeng's Chairman, Bin Chen, stated the goal is to establish Diamond as a long-term leader in worldwide general aviation, building on its reputation for innovation and safety.
- Former CEO Christian Dries expressed satisfaction with the acquisition, believing Wanfeng shares his vision and has the resources for Diamond's continued success.
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