Diamond Aircraft Industries (Austria) and Hangzhou, China-based Wanfeng Aviation Industry jointly announced the completion of the acquisition of Diamond Aircraft Group by Wanfeng Aviation Industry.
Christian Dries, former CEO of Diamond Aircraft said: “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.” In late 2016, Wanfeng acquired a 60-percent stake in Diamond’s manufacturing operation in Canada as well as rights to manufacture the seven-passenger DA62 twin and four-passenger DA40 single. The acquisition includes aero-diesel engine manufacturer Austro Engine. Wanfeng Aviation Industry’s intent is to continue to invest in the Diamond Global R&D Center located in Wiener Neustadt.
This purchase is the latest move for Mr. Bin Chen and Wanfeng Aviation Industry. As one of the new visionaries of Chinese Aviation, Mr. Chen is committed to build a whole-industry chain in aviation covering five business segments (Aircraft Manufacturing, Airport Management, Flight School Training, General Aviation Operations, and Flight Service Centers). Within only the last five years, Wanfeng has invested in numerous aviation projects throughout the world including the Czech Republic, Canada, United Kingdom, and China.