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 its full acquisition of Diamond Aircraft Group, a year after purchasing a majority stake in Diamond Canada.
- Wanfeng aims to significantly boost Diamond's long-term global sales, production, and support, with a strategic focus on expanding its presence in the U.S. market and achieving leadership in general aviation.
- Wanfeng's chairman cited Diamond's market leadership and respected aircraft as key attractions, while former CEO Christian Dries expressed confidence in Wanfeng as the right partner with a shared vision and resources for Diamond's future.
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