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Duofu Group acquires Italian helicopter firm in plan for aviation industry

Chinese firm Duofu Group's aviation unit has acquired Italian helicopter firm Fama on Tuesday, while revealing a 5 billion yuan-investment plan to build a complete aviation industrial chain covering research and development to production to sales and operation. Fama will become a wholly-owned subsidiary of Duofu, with all of its business links.

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 products such as unmanned aerial vehicles, electric vertical take-off and landing aircraft and other products. In total, Duofu Aviation is planning to invest 5 billion yuan to gradually form a complete aviation industrial chain including R&D, production, sales and operation to drive and form industrial blocs covering an aviation training base, aviation insurance industry, airplane leasing, aviation clubs and logistics.


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