China has bought up several general aviation companies recently, and is trying to purchase more. Most notably, they purchased engine maker Teledyne Continental in December. Recently, they annouced their intent to purchase Cirrus. Since then, that bid is looking like it will see competition from a consortium.
...In April, CAIGA purchased Epic Air for $4.3 million. The small general aviation aircraft company, based in Bend, Ore., had filed for bankruptcy.
In December, a subsidiary of CAIGA said it would buy aviation engine maker Teledyne Continental Motors for $186 million in cash.
Last month, CAIGA announced it would buy Cirrus for an undisclosed sum. The company, based in Duluth, Minn., is [currently] owned by Middle East investors.
It delivered 264 Cirrus SR20, SR22 and SR22T single-engine aircraft last year. The planes are made using carbon-fiber composites. It also has a small jet in development.
China is also trying to buy Dubai-based Emivest Aerospace, once Sino Swearingen, which built a small business jet called the SJ30.
The buying spree is a two-prong strategy on China's part, Foley said.
First, developing civil aviation is a Chinese national priority.
China has begun relaxing airspace restrictions for low-altitude airspace, and planemakers consider China an emerging market for sales.
...China's attempt at becoming an aviation manufacturing powerhouse is a long process, Vincent said. It [may] take 10 or 20 years.
"It's just a question of when," he said. "If they don't buy Cirrus, they'll buy something else."
Read more: http://www.kansas.com/2011/03/22/1773873/ese-buying-spree-creates-some.html#ixzz1HSENP5Tb
- Jon O
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