Wanfeng Aviation Industry acquires Diamond Aircraft Group
China-based Wanfeng had been an investor of Austria-based Diamond’s general aviation aircraft facility in Canada, but now takes over the entire company. Diamond manufactures composites-intensive, piston-powered aircraft.
Diamond Aircraft Industries GmbH (Wiener Neustadt, Austria) and Wanfeng Aviation Industry Co. Ltd. (Hangzhou, China) announced on Dec. 23 the completion of the acquisition of general aviation aircraft manufacturer Diamond Aircraft Group by Wanfeng Aviation Industry Co. Ltd. The companies say the acquisition assures the long-term future of the Diamond brand, with plans to increase global sales volume, expansion of the distribution and support and guests networks, and continued designed and development of piston aircraft.
Click here for CW plant tour of Diamond Aircraft in Wiener Neustadt
Christian Dries, former CEO of Diamond Aircraft, says: “Diamond is my life’s work. In the interest of a successful long-term future, we needed to find the right partner to continue our good work. Wanfeng, and specifically Mr. Bin Chen, share my vision of the future of general aviation and are investing for the right reasons, with a long-term strategy and the resources to see their vision through. I look forward to seeing Diamond develop further and based on our successful year-long partnership in Diamond Canada, I am fully satisfied that I leave Diamond in very good hands.”
“We were attracted to Diamond’s leadership position in the market,” said Bin Chen, chairman of Wanfeng Aviation Industry and president of the Wanfeng Auto Holding Group. “Under the 25-year leadership of founder Mr. Christian Dries, the Diamond team has developed a broad range of superb aircraft that have gained worldwide respect for their performance, efficiency, safety and innovation. Based on this excellent foundation, we intend to take Diamond to a long term leadership position in worldwide general aviation.”
Almost one year after investing in Diamond Canada, Wanfeng Aviation Industry adds the research and technological talent of Diamond Austria and Austro Engine GmbH where it will continue to develop new technologies and aircraft models, including the Dart turboprop aerobatic trainer and the DA50 models, for the global general aviation market. Wanfeng Aviation Industry’s intent is to continue to invest in the Diamond Global R&D Center located in Wiener Neustadt to bring additional jobs and opportunities to the local economy and community. Diamond Austria will also remain a Global Engineering Service Platform supporting worldwide aircraft manufacturing centers by licensing advanced technologies which only help progress the global general aviation market.
Chen will be chairman of Diamond Aircraft Industries GmbH. Frank Zhang will be CEO. Dries will maintain an advisory function to help guiding the new ownership and ensure the continued development of Diamond Aircraft Group.
Wanfeng Auto Holdings Group is a global company with more than sixty (60) subsidiaries with industrial headquarters throughout the world. Wanfeng Auto Holdings Group employs more than 12,000 employees in six industrial sectors.
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