Wanfeng Aviation Inc. has acquired a 60% interest in Diamond Aircraft Canada.
The investment from the aviation arm of Wanfeng Auto Holding Group, a diverse Chinese manufacturer of parts for both the automobile and the aviation industry, will support expanded production, sales and service activities globally, with a strengthened focus on the US market, according to Diamond officials.
Diamond Aircraft Industries GmbH, based in Austria, remains completely independent and will assist production and development activities in the Canadian company, officials noted, adding leadership and key personnel of Diamond Austria are not affected by this transaction.
As part of the deal, Diamond Canada has acquired all rights to the DA62 (pictured below) and DA40 programs from Diamond Austria.
The investment also includes D-JET Corp., which is developing the company’s jet. Company officials note that the future of the jet — or any possible derivative aircraft — is subject to ongoing review.
Diamond Austria will continue to produce the DA42s and future models currently under development, in Austria.
Production of the DA40 and DA62 will transition from Austria to Canada by the end of 2017.
Company officials note the plan now is to continue production of the DA20, DA40, and DA62, at Diamond Canada, indefinitely.