WDAY.com

WDAZ: Your Home Team

Published June 28, 2011, 01:35 PM

Sale of Cirrus to Chinese Company Complete

A company controlled by the Chinese government now owns Duluth-based Cirrus Aircraft. Cirrus said Tuesday that China Aviation Industry General Aircraft Co. Ltd. has completed its acquisition of all operations.

By: Associated Press,

DULUTH, Minn. (AP) — A company controlled by the Chinese government now owns Duluth-based Cirrus Aircraft.

Cirrus said Tuesday that China Aviation Industry General Aircraft Co. Ltd. has completed its acquisition of all operations.

In a statement, Cirrus President and CEO Brent Wouters says the deal will allow Cirrus to accelerate its aircraft development and global expansion.

The sale was announced last February but was temporarily slowed to allow for federal authorities to determine if the deal involved any sensitive technology that could be detrimental to national security.

Minnesota Congressman Chip Cravaack (kruh-VAHK') had asked for the review. Cravaack tells the Duluth News Tribune (http://bit.ly/mUEXh1) he is satisfied the sale received proper scrutiny.

Cirrus employs about 400 people in Duluth. The company also has a plant in Grand Forks, N.D.

Tags: