Sunday, September 26, 2021

Chinese Company Buys Majority Stake of Diamond Aircraft Canada

Chinese Company Buys Majority Stake of Diamond Aircraft Canada

Will overseas investment lead to a resumption of work on the ill-fated D-Jet?

Diamond Aircraft Industries Inc., Canada surprised much of the industry when on December 13 it sold 60 percent of the company's shares to Wanfeng Auto Holding Group, a diverse Chinese manufacturer of parts for both the automobile and the aviation industry. An English-language news outlet in China, CRJEnglish, said the deal was closed at Diamond's London, Ontario factory.

Diamond Canada said the investment would support globally expanded production, sales and service, with a stronger focus on the U.S. market. Wanfeng is reportedly interested in growing the aviation arm of the Asia-based company. Through this investment, Diamond Canada has acquired all rights to the DA62 and DA40 (both Lycoming and Austro engine options) from Diamond Austria. Diamond Canada also said the investment will allow the companies to review the future of the D-Jet, or a derivative.

While the sale puts Diamond Aircraft Industries Canada solidly under Wanfeng’s control, Diamond Aircraft Industries GmbH, as well as Austro Engine GmbH, remain under 100 percent control of Austria operations and independent of this transaction. Wanfeng is also involved in robotics and the financial industry.


Over a Quarter Century of Innovation

The history of Diamond Aircraft dates back to 1981. With the beginning of the 1990s it joined the aviation pioneers who came before them. The plan for Diamond Aircraft was elegant in its simplicity. Use the best in class HK36 motorglider and its innovative use of advanced composite materials as the foundation for a new family of modern aircraft. Aircraft that wouldn’t be bound by the past, but ones that would set new standards for innovation, efficiency, performance and safety.

Today Diamond remains the only manufacturer to deliver a full line of aircraft that combine innovative airframe technology, advanced avionics systems and modern electronically controlled jet fuel piston engines. Along the way there were many firsts and triumphs, as well as some setbacks and disappointments. Through all the trials and tribulations one thing has remained constant – our unwavering commitment to innovation – for the sake of improved safety, performance and efficiency.

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