Wanfeng Auto Holding Group holds a handover ceremony to acquire Diamond Aircraft Industries in Canada, on Tuesday, Dec. 13, 2016. [Photo: The Paper]
Wanfeng Auto Holding Group has announced that a handover ceremony was held in London, Ontario, Canada on Tuesday following the formal acquisition of Diamond Aircraft Industries, the world's third-largest general aviation aircraft manufacturer, The Paper reports.
This purchase is the latest move for Wanfeng, based in Zhejiang province, to build a whole-industry chain in aviation, after it acquired three aircraft manufacturing projects in Czech Republic and an aviation training school in Canada, as well as built its own aviation town in Zhejiang. Chen Ailian, board chairman of Wanfeng, revealed that the first plane produced and named by Wanfeng is to make its maiden flight next summer.
Established in 1981, Austrian-headquartered Diamond Aircraft Industries produces a range of light aircraft and has been engaged in the development of a single-engine jet aircraft, the Diamond D-Jet.
Founded in 1994, Wanfeng has businesses in such fields as auto parts manufacturing, robotic and intelligent equipment, magnesium alloy, and financial investment, with annual sales of 3 billion U.S. dollars.
This file photo shows general aviation aircraft made by Diamond Aircraft Industries. [Photo: The Paper]