China to acquire world’s largest piston aircraft maker

Cirrus Industries, Inc., has agreed to be acquired by China's state-owned general aviation manufacturer in a major shakeup of the industry sector.
The acquisition, if approved by US authorities, would unite the China Aviation Industry General Aircraft Co (CAIGA) with the Minnesota-based Cirrus, which last year delivered more piston-powered aircraft than any other manufacturer, according to the General Aviation Manufacturers Association (GAMA).
With the SF-50 Vision jet aimed for delivery in 2013, the proposed acquisition by CAIGA will allow Cirrus to "expedite our aircraft development programs," says Brent Wouters, Cirrus's president and chief executive.
Acquiring Cirrus is a major step for CAIGA, which has already bought the assets of Epic Air and is acquiring the piston engine business of Teledyne for $186 million. CAIGA also is leading a bidding war to buy Emivest Aerospace, which builds the SJ30 light business jet in Texas