Wanfeng Aviation Industry Completes Acquisition Of Piston Aircraft Maker Diamond Aircraft
Roughly a year after acquiring a 60% stake in Diamond Aircraft’s Canada-based manufacturing operation, China-based Wanfeng Aviation Industry, a company belonging to Wanfeng Auto Holding Group, completed its acquisition of Austria-based Diamond Aircraft Group. Founded in 1981, Diamond Aircraft manufacturers single- and twin-engine piston aircraft, including the single-engine, two-seat DA20 and four-seat DA40 and the twin-engine, four-seat DA42 and seven-seat DA62 aircraft. The acquisition also includes diesel aerospace engine maker Austro Engine.
A Life’s Work
Based in Wiener Neustadt, Austria, Diamond Aircraft is credited with being the first manufacturer to introduce diesel-powered single- and twin-engine piston aircraft. Former CEO Christian Dries purchased the company in the early 1990s. In a statement, he noted that while “Diamond is my life’s work,” the company needed to find the right partner to continue its work. Dries added that Wanfeng and its CEO Bin Chen “share my vision of the future of general aviation and are investing for the right reasons.”
Chen will become chairman of Diamond Aircraft, while Frank Zhang will take over CEO duties. Dries is to assume an advisory position. Chen, also the president of Wanfeng Auto Holding Group, cited Dries’ 25-year leadership and the company’s development of a “broad range of superb aircraft” that’s gained global respect. “Based on this excellent foundation, we intend to take Diamond to a long-term leadership position in worldwide general aviation,” Chen stated.
Moving Forward
Wanfeng Auto Holdings Group touts more than 60 subsidiaries and 12,000-plus employees globally across six industrial sectors. Chen previously served as vice president of the China Transportation Association and as first president of the General Aviation Industry Association of Zhejiang Province.
Diamond Aircraft says Wanfeng Aviation will use the research and technological talent available through Diamond Austria and Austro Engine to continue to develop new technologies and aircraft models. That includes development of Diamond’s Dart turboprop aerobatic trainer and its 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,” Diamond Aircraft stated.
Controller.com has numerous Diamond Aircraft for sale.
Source: Diamond Aircraft