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Bill is Dead.
Join Date: Jul 2005
Location: Alaska.
Posts: 9,633
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Chinese buy Continental
Another US company goes to the Chinese.
Teledyne Continental Motors, a subsidiary of Teledyne Technologies, has been sold to Technify Motors, a subsidiary of AVIC International, a Chinese government-owned holding company with diverse business interests in the aerospace sector. Teledyne's Jason VanWees, Teledyne Technologies' vice president for business development, said that once the sale has cleared regulatory hurdles, it should become final by the end of the first quarter of 2011. Until then, Teledyne will continue to oversee TCM. The sale price, according to AVIC and Teledyne Technologies, was $186 million.
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-.-. .- ... .... ..-. .-.. -.-- . .-. The souls of the righteous are in the hand of God, and no torment will ever touch them. |
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01-22-2011, 12:21 PM
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Registered
Join Date: Jan 2005
Location: Minneapolis
Posts: 7,482
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At least Lycoming is still US owned
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01-22-2011, 12:45 PM
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Bill is Dead.
Join Date: Jul 2005
Location: Alaska.
Posts: 9,633
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Not much of a market share, but so is Franklin.
IMO, TCM was doomed the minute Textron acquired Cessna because of the instant market share it gave them. Still... hate to see them sell out. But I'm sure the Chinese ownership will take them back to the top. I've been reading for a few years now that the Chinese aviation market is really growing.
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-.-. .- ... .... ..-. .-.. -.-- . .-. The souls of the righteous are in the hand of God, and no torment will ever touch them. |
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01-22-2011, 01:37 PM
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