Sat, Jul 21, 2012
Glasair Aviation Acquired by Mr. Fang Tieji, Chairman of Jilin Hanxing Group
We've heard this story before.... but yet again, another (once) uniquely-American aviation success story is about to be a foreign-owned company.
Glasair Aviation LLC (Glasair), and Mr. Fang Tieji, Chairman of Jilin Hanxing Group co., Ltd., have announced that Mr. Fang has acquired Glasair's kit-aircraft manufacturing assets. Glasair Aviation manufactures the very popular Glasair, Glastar and Sportsman lines of personal aircraft, having delivered approximately 3,000 planes which are being built and/or flown all over the world.
Mr. Fang has formed Glasair Aviation USA LLC as the new operating entity for Glasair's product lines and plans to invest substantially in Glasair's existing product lines, starting with certifying the popular Sportsman design. In addition, Mr. Fang plans to substantially grow Glasair Aviation USA by acquiring and consolidating additional airframe designs and other aviation related companies.
There are no plans to relocate or terminate any existing Glasair Aviation employees. Mr. Fang plans to retain Glasair's U.S. headquarters, management team and employees. ANN will have more information on this development shortly...
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