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03-23-2011, 02:20 AM #1
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China buying U.S. aviation firms
China buying U.S. aviation firms
By Molly McMillan | Wichita Eagle
Tuesday, March 22, 2011
In the past year, China has been "snapping up" U.S. general aviation companies, including a recent deal to buy cash-strapped Cirrus Aircraft, an aviation consultant noted in a recent report.
While the purchase of Cirrus is a small transaction, it underscores China's plans to expand its aviation industry.
"In buying up established companies, China gets the management know-how, brand, distribution, technology in days, not decades," said Brian Foley, with Brian Foley Associates.
After Foley wrote a report on the issue two weeks ago, he received an "outpouring" of calls from the aviation community frustrated that Chinese companies are buying U.S.-based ones, he said.
The speed and passion of the feedback was a surprise, he said.
"It occurred to me that it may not be too late to try to get another offer in on Cirrus," Foley said.
Read the complete story at kansas.com http://www.kansas.com/2011/03/22/177387 ... -some.html
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