Cirrus Acquired by Chinese Company

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Cirrus Industries Inc., parent company of Cirrus Aircraft, has been sold to China Aviation Industry General Aircraft Co. (CAIGA) of Zhuhai, China, but it appears the company will continue to build parts in Grand Forks, N.D., and assemble airplanes in Duluth, Minn. It has long been rumored that a Chinese company would acquire Cirrus and the final announcement was made Monday morning. CAIGA is a subsidiary of Aviation Industry Corporation (AVIC), the state-owned aviation company of China that makes everything from military jets to airliners. In a news release, Cirrus CEO Brent Wouters says the deal will be a shot in the arm for the company and for its employees in Grand Forks and Duluth. "CAIGA understands the strength and the talent of Cirrus's workforce and the prominence of the Cirrus brand in general aviation," Wouters said. "Through this transaction, CAIGA will invest in our employees in both Minnesota and North Dakota by committing to the continued use of our world-class production facilities."

Although it was not specifically mentioned in the news release, the transaction could result in an immediate acceleration of Cirrus's long-awaited Vision jet program. The single-engine jet project has stalled in recent years due to a lack of funding but Wouters has maintained throughout that an injection of investment capital would revive the jet. For its part, CAIGA says its focusing on the piston market with Cirrus. "We are very optimistic to begin our partnership with Cirrus and add Cirrus's strong brand as the cornerstone in our aviation product portfolio," said CAIGA President Meng Xiangkai. Cirrus was founded by Alan and Dale Klapmeier about 12 years ago and Dale Klapmeier is the current chairman. He said he was "thrilled" to make the announcement. "With this transaction, Cirrus will continue to develop and build the best, most exciting aircraft in the world," Klapmeier said. "The original dream remains alive and well at Cirrus. We are just embarking on our next chapter on a global stage."
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source: http://www.avweb.com/avwebflash/news/Cirrus_Acquired_By_Chinese_Company_204192-1.html
 
We're not the best country in the world anymore. If it's a good company I say good for them. I would hate to lose Cirrus though. Great company, great people. If it's just the capital and gains, so be it.
 
Boris Badenov said:
Oh come on, the Chinese have a long and storied history of making cheap plastic junk. Marriage made in heaven! :D
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Laughed so hard I made a little pee in my pants. Thank you my friend.

I just wish the company was called Cillus...so it would be funny when the Chinaman said it.

"I'm frying my Cirrus to Maine to have robster craws".
 
No worries. Soon the Chinese will just buy the whole U S of A. I tecnically work for them now and am sure I will somehow be working for them again in the future as I progress in my career.
 
Welp.

Lets look at it this way and perhaps the wine IS talking, but take a peek around the forums.

How many times do we plead with people to pursue higher education? How many, as a percentage, have read a book other than something solely aviation-related or if at all?

I don't know, this is fully the fruition of resting on our laurels for a few generations and screaming "We're number ONE!" without actually striving to be... Number 1.
 
Boris Badenov said:
Oh come on, the Chinese have a long and storied history of making cheap plastic junk. Marriage made in heaven! :D
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Yes, think Cessna.
Check you local store and try to find any small products NOT made outside the US. Can be done, but not easy.
 
TexasFlyer said:
No worries. Soon the Chinese will just buy the whole U S of A. I tecnically work for them now and am sure I will somehow be working for them again in the future as I progress in my career.
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With the debt the US gov owes them, I think they already do.
 
In the 80's - when most of you were filling your Pampers with poop and sittting in it - there was a large cry that "The Japs are buying up are country!!!1!" as they were buying American corporations, huge amounts of American real estate, and I believe they even bought the Pebble Beach golf course. Of course, economic fortunes changed. Just a bit of historical perspective. I am not making light of the USA's dwindling manufacturing base, just letting you know that this isn't particularly new. Markets find a way to correct themselves and the only thing you can conclusively say is going to happen is evolution. The Skycatcher is built in China, Cirrus is owned by China, Continental motors is owned by China and the list will go on and on.
 
drunkenbeagle said:
One of the two founders of Garmin is Chinese, FYI
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Technically Taiwanese now I guess? Not sure. How does that work if you were born in Taiwan while it was part of China and now it's separate?
same principles as the early Americans post Revolutionary War?

Or am I just confusing the whole process all together?
 
juan valdez said:
Technically Taiwanese now I guess? Not sure. How does that work if you were born in Taiwan while it was part of China and now it's separate?
same principles as the early Americans post Revolutionary War?

Or am I just confusing the whole process all together?
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I would say that he's an American of Chinese (or Taiwanese) descent. Certainly he and the other guy made a great business. Additionally, I know many people who work for Garmin including an Aunt and she has nothing but good to report about the company and its benefits. For my money it is one of the top three "coolest" companies in the KC metro in terms of what they do.
 
WacoFan said:
there was a large cry that "The Japs are buying up are country!!!1!"
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Japan currently owns almost exactly the same amount of US debt that China does. I just read the list the other day and they were within 0.4% of each other. Everyone is up in arms about China, but Japan is as much of a creditor as the PR.
 
Our government should make a list of the top 1000 or American companies that are considered to be cornerstone and are "protected" and therefore cannot be bought by any overseas interest. The downside of this would be the bailout that would be needed in certain situations if they were about to go under, OTOH the jobs they provide and the tax dollars they pay are absolutely paramount to our country and its livelihood.
 
Well good for them if that gives them a breath of fresh air, and allows them to sell their airplanes in China wich promises to be a huge market. On the other hand if CAIGA bought the company to steal the tooling and know-how to market cheap copies in China, then that's very sad. As much as the Chinese are very quick at copying low-tech things, they suck at copying high tech stuff for the most part.
 
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