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 the Chinese company Wanfeng Auto Holding Group.
- This investment aims to expand Diamond Canada's global production, sales, and service, with a stronger focus on the U.S. market.
- Diamond Canada acquired all rights to the DA62 and DA40 aircraft models from Diamond Austria and will review the D-Jet's future.
- Diamond Aircraft Industries GmbH (Austria) and Austro Engine GmbH remain 100% independent and unaffected by this transaction.
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