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 auto and aviation parts.
- The investment aims to expand Diamond Canada's global production, sales, and service, with a focus on the U.S. market, and includes the acquisition of all rights to DA62 and DA40 models from Diamond Austria.
- Diamond Aircraft Industries GmbH and Austro Engine GmbH, both based in Austria, remain 100% independent and are not part of this transaction.
Key takeaways sponsored by Aviator Pro | Start Your Training ->
See a mistake? Contact us.
