General Aviation Diamond Aircraft Group acquired by Wafeng Aviation Industry

The Austrian aircraft manufacturer Diamond Aircraft Group has announced it has been acquired by Chinese Wafeng Aviation Industry

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This purchase is the latest move for Wanfeng Aviation Industry and its owner Bin Chen. The manager tries 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. Bin Chen shall assume the position of Chairman of Diamond Aircraft Industries GmbH. Mr. Frank Zhang shall assume the position of Chief Executive Officer. 

According to the press release Wanfeng Aviation Industry is part of the Wanfeng Auto Holdings Group which is a global company with more than sixty subsidiaries with industrial headquarters throughout the world. Wanfeng Auto Holdings Group employs over 12,000 employees in six industrial sectors.

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.”

Bin Chen, Chairman of Wanfeng Aviation Industry and President of the Wanfeng Auto Holding Group
Bin Chen, Chairman of Wanfeng Aviation Industry and President of the Wanfeng Auto Holding Group

Diamond Aircraft Industries was established in 1981 producing light aircraft and glider. Based in Wiener Neustadt, the aircraft manufacturer has production lines operated as joint ventures in countries such as China. As a first step, 60% of Diamond Aircraft Canada were sold to Wanfeng Aviation in December 2016.

“We were attracted to Diamond’s leadership position in the market”, said Bin Chen, Chairman of Wanfeng Aviation Industry and President of the Wanfeng Auto Holding Group. “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.

Source © diamond-air.at

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