Diamond Sold To Wanfeng Group Of China

Diamond Sold To Wanfeng Group Of China

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A year after it acquired a 60 percent stake in Diamond Aircraft Canada, the Chinese Wanfeng Auto Holding Group purchased all the assets of Diamond Aircraft Group, bringing to a close the longtime ownership of the piston-aircraft manufacturer by the Dries family, of Austria.

The new owners say the move will have a significant impact on Diamond’s long term future, with plans for increased global sales. When it announced last year’s cash infusion to Diamond, Wanfeng promised globally expanded production, sales and support operations, as well as a stronger focus on the U.S. market.