China’s Wanfeng Aviation has completed a takeover of Austria’s Diamond Aircraft, a year after Wanfeng bought 60% of Diamond Aircraft Canada.
Mr 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.
“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.”
“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.”
Wanfeng Auto Holdings Group is a global company with more than sixty subsidiaries and 12,000 employees.
Mr Bin Chen is the CEO for Wanfeng Auto Holdings Group and Chairman of Meridian Lightweight Technologies, Inc., and numerous other companies throughout the globe. Mr Chen holds a Master of Science in Management (MSc) from University of Hull in the United Kingdom and is amongst the new class of young successful entrepreneurs in China.
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 Centres.
Almost exactly 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 Centre located in Wiener Neustadt to bring additional jobs and opportunities to the local economy and community.
Mr Bin Chen will become Chairman of Diamond Aircraft Industries GmbH. Mr Frank Zhang shall assume the position of Chief Executive Officer. Mr Christian Dries will maintain an advisory function to help guiding the new ownership and ensure the continued development of Diamond Aircraft Group.