Diamond Aircraft Industries Inc., Canada surprised much of the industry when on December 13 it sold 60 percent of the company’s shares to Wanfeng Auto Holding Group, a diverse Chinese manufacturer of parts for both the automobile and the aviation industry. An English-language news outlet in China, CRJEnglish, said the deal was closed at Diamond’s London, Ontario factory.
Chinese Company Buys Majority Stake of Diamond Aircraft Canada
Key Takeaways:
- Diamond Aircraft Industries Inc., Canada, sold a 60% stake to China's Wanfeng Auto Holding Group, a diverse manufacturer in automotive, aviation, robotics, and finance.
- The investment aims to globally expand Diamond Canada's production, sales, and service, with a stronger focus on the U.S. market, and enabled Diamond Canada to acquire rights to the DA62 and DA40 aircraft models from Diamond Austria.
- This transaction specifically affects Diamond Canada; Diamond Aircraft Industries GmbH and Austro Engine GmbH in Austria remain 100% independently controlled and are not part of this deal.
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