9 October 2013
Mooney Aircraft Company has been reportedly sold to Meijing Group, a Chinese real estate developer.
According to reports in Chinese media, an unnamed executive with the Meijing Group has confirmed the takeover should be completed next month after the Committee on Foreign Investment in the United States approved the deal on 2 October.
Mooney has confirmed that funding is now available to resume production of three models of Mooney aircraft. The company Soaring America Corporation of Alhambra, Calif., is providing the funding under an arrangement that will be kept confidential. It’s not clear if Soaring America is affiliated with the Meijing Group. Reportedly, the funding will allow production of the Acclaim Type S and Ovation 2 and 3.
The deal for new funding is expected to revive the 84-year-old US manufacturer of single-engine General Aviation aircraft, which laid off employees and suspended production in 2010.
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