The deal is subject to U.S. and Chinese government approvals, including U.S. antitrust review. The companies said they hope to close the transaction in mid-2011.
The Chinese company’s resources will allow Cirrus to speed up its aircraft development programs and its global expansion, said Brent Wouters, president and chief executive officer of Cirrus.
John Bosch, owner of Commander Aero Inc., which services Cirrus planes and other aircraft at Dayton-Wright Brothers Airport, said he believes the acquisition will help Cirrus by bringing the company additional financial resources and expertise. Additional sales of Cirrus aircraft could increase the maintenance work for Commander Aero, with about 30 percent of its business already dependent on Cirrus work, Bosch said.
Contact this reporter at (937) 225-2242 or jnolan@DaytonDailyNews.com.
About the Author