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By Mary Grady, Contributing editor
Glasair, which sells a popular line of homebuilt aircraft and offers the "two weeks to taxi" option at its Washington factory, announced on Saturday that it has been acquired by Jilin Hanxing Group, based in China. Fang Tieji, chairman of the company, has formed Glasair Aviation USA LLC. The new owners plan to invest "substantially" in Glasair's existing product lines, starting with certifying the Sportsman design, according to the company's news release. "There are no plans to relocate or terminate any existing Glasair Aviation employees," according to the company statement. "Mr. Fang plans to retain Glasair's U.S. headquarters, management team and employees." Glasair joins other general aviation companies that have been acquired in recent years by Chinese owners, including Cirrus Aircraft. Hawker Beechcraft is currently negotiating with a Chinese company for a possible sale. AVweb's editorial director recently spoke with James Fallows, author of a new book reporting on China's aviation industry. Click here for that podcast. |
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Source: http://www.avweb.com/avwebflash/news/GlasairSoldToChineseCompany_207009-1.html?CMP=OTC-RSS
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