Zongshen Industrial Group Makes Car And Motorcycle Engines

One of China's largest manufacturers of car and motorcycle engines is looking to acquire one or more overseas general aviation companies this year.

Zuo Zongshen, the CEO of Zongshen Industrial Group based in Chongqing province said the company is looking to expand its emerging business, according to a report in China Daily. He is looking at companies that produce airplanes or aviation components in the U.S., Europe, Ukraine, and Belarus, according to the report.

Last year, Zongshen acquired a 49 percent and then became the principal shareholder in Harbor Air Ltc. in Canada, the world's largest seaplane operator. Zuo called the acquisition a "strategic investment". He said the company plans to open two seaplane routes in China later this year. They would be sightseeing tours before expanding into a parcel delivery service.

The CAAC is currently drafting a plan for general aviation to run from 2016 - 2020.

The company's interest in aviation comes as the country is cracking down on use of motorcycles in China in an effort to reduce traffic congestion and accidents, according to the report.

FMI: www.zongshen.cc/en