China’s purchase of Cirrus Industries Inc. under review by US authorities

March 1, 2011 at 1:10 pm | Posted in Aviation Law Current Event | 1 Comment

by Sara M. Langston with the blog faculty

Source: Flightglobal

Cirrus Industries, Inc., has agreed to be acquired by China’s state-owned general aviation manufacturer in a major shakeup of the industry sector.

The acquisition, if approved by US authorities, would unite the China Aviation Industry General Aircraft Co (CAIGA) with the Minnesota-based Cirrus, which last year delivered more piston-powered aircraft than any other manufacturer, according to the General Aviation Manufacturers Association (GAMA).

The transaction must be reviewed by the committee on foreign investment in the US (CFIUS) and the Department of Justice under the Hart-Scott-Rodino antitrust improvements act, as well as approved by the Chinese government.

See also: AOPA – Cirrus sold to China;  Flying – Breaking News: New Owners for Cirrus

 

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  1. Man, this bothers me. Cirrus is one of the few reasons the private aviation industry is not dead and moribund, having brought updated technology and modern practices to an industry that had in fact become moribund and stuck in the 1950s. This is a Chinese state-owened company; it is, in effect, the Chinese Communist Party and the Chinese military (which has many businesses) who are buying this. If they take it all back to China and start mass-producing the planes there, it will be a sad day for the US aviation industry.


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