The Duofu Group acquires an Italian helicopter company as part of a plan for the aeronautical industry

File photo: Xinhua

China’s Duofu Group’s aeronautical unit acquired Italian helicopter company Fama on Tuesday, while revealing a 5 billion yuan investment plan to build a comprehensive aviation industrial chain covering research and development, production , sales and operations.

Fama will become a wholly-owned subsidiary of Duofu, with the acquisition of all its business links, including research and development (R&D), production, sales and intellectual property rights. The acquisition signing ceremony was held in Milan, Italy as well as in Beijing and Hangzhou, China.

The company’s aviation arm, Duofu Aviation Industry Group Co, will not only expand the capacity of existing products after the acquisition, but also set up a helicopter engine design and R&D center in Europe to research such products. as unmanned aerial vehicles, electric vertical take-off and landing aircraft and other products.

Duofu will also set up an R&D center in China to build production lines for helicopters and aircraft engines.

In total, Duofu Aviation plans to invest 5 billion yuan to gradually form a complete aviation industrial chain including R&D, production, sales and operation to fly and form industrial blocks covering aviation training base, aviation insurance industry, aircraft leasing, aviation clubs and logistics.

Duofu’s acquisition and investment plans came amid China’s booming aviation industry. According to estimates from the China Aviation Industry Development Research Center, the number of civil helicopters in China will reach more than 3,500 by 2027, while the market size of the production and sales of helicopters alone would amount to approximately $14.4 billion.