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 majority stake purchase in Diamond Canada.
- Wanfeng aims to significantly expand Diamond's global sales, production, and market presence, with a strong focus on the U.S. market, to achieve a leadership position in general aviation.
- Diamond's founder, Christian Dries, and employees view the acquisition positively, believing Wanfeng provides the long-term vision and resources necessary for continued growth and success.
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