Published: Thursday, July 26, 2012, 3:11 p.m.
Chinese firm buys Glasair of Arlington
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A local manufacturer of airplane kits has been sold to Fang Tieji, chairman of China's Jilin Hanxing Group Co.
Glasair Aviation sold its manufacturing assets last week to Fang, who plans to retain the company's site in Arlington as well as the roughly 35 people employed there. Terms were not disclosed.
Glasair, which was founded in 1980, has delivered more than 3,000 kit-aircraft to customers around the world. Approximately 1,700 of those aircraft have been assembled and are flying today.
Fang has formed Glasair Aviation USA LLC as the new operating entity for Glasair. He plans to invest "substantially" in Glasair's product lines, including the Glasair, Glastar and popular Sportsman design. Fang plans to grow Glasair Aviation USA by acquiring and consolidating additional airframe designs and other aviation companies.
Jilin Hanxing Group is a conglomerate consisting mostly of real estate, construction and property management companies. The Jilin Ruifu Motor Group Co. is also part of the group. The company is located in Jilin City, the second-largest city in the Jilin province in Northeast China. It is also a sister city to Spokane.
Glasair Aviation sold its manufacturing assets last week to Fang, who plans to retain the company's site in Arlington as well as the roughly 35 people employed there. Terms were not disclosed.
Glasair, which was founded in 1980, has delivered more than 3,000 kit-aircraft to customers around the world. Approximately 1,700 of those aircraft have been assembled and are flying today.
Fang has formed Glasair Aviation USA LLC as the new operating entity for Glasair. He plans to invest "substantially" in Glasair's product lines, including the Glasair, Glastar and popular Sportsman design. Fang plans to grow Glasair Aviation USA by acquiring and consolidating additional airframe designs and other aviation companies.
Jilin Hanxing Group is a conglomerate consisting mostly of real estate, construction and property management companies. The Jilin Ruifu Motor Group Co. is also part of the group. The company is located in Jilin City, the second-largest city in the Jilin province in Northeast China. It is also a sister city to Spokane.
Story tags » • Arlington • Locally Based Company • General Aviation • Aerospace
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