December 28, 2017

Diamond Bought By Chinese Company


Diamond Aircraft Canada is now wholly owned by a large Chinese transportation company and CEO Peter Maurer said that will be good for the company as a whole. Wanfeng Aviation bought 60 percent of Diamond Canada a year ago, leaving the other 40 percent in the hands of Diamond Austria, which was controlled by founder Christian Dries. Just before Christmas, Wanfeng bought the Austrian holdings taking full control of both arms of the company. “Everything is under one umbrella and that’s very positive,” Peter Maurer, CEO of Diamond Aircraft Canada, told the CBC. “We’re currently at 180 employees and we expect to go to 300 by December 2018.”

Meanwhile, the company has completed Transport Canada Civil Aviation (TCCA) certification on the DA62 seven-seat twin diesel and diesel version of the DA40 single, both of which are made at the London plant. Wanfeng said it plans to increase production and global distribution under its new CEO Bin Chen, who praised the company’s progress under Dries’ leadership. “Based on this excellent foundation, we intend to take Diamond to a long term leadership position in worldwide general aviation,” he said. Dries said he wanted the company to be sold to an entity that would invest in its growth. “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,” Dries said.