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Cirrus Aircraft and CAIGA complete merger

Cirrus Aircraft and China Aviation Industry General Aircraft Co., Ltd. (CAIGA) today announced that the two companies have completed their merger. With the previously announced merger now finalized, Cirrus Aircraft, a global leader in general aviation, joins China's leading general aviation product and services company to form a worldwide general aviation enterprise.

"We're very excited to have joined forces with CAIGA," said Brent Wouters, Cirrus President and Chief Executive Officer. "This partnership will benefit our business and our customers; we share with CAIGA a vision of worldwide growth. CAIGA has the resources that will allow us to expedite our aircraft development programs and accelerate our global expansion."

Wouters also said that he expects the merger to deliver benefits in terms of jobs and job growth in the United States: "Our partners at CAIGA understand the strength and the talent of Cirrus's workforce who have made the Cirrus brand so successful and prominent in the general aviation marketplace. CAIGA will continue to invest in our employees and in our world-class production facilities in Minnesota and North Dakota."

"We are very impressed with Cirrus' performance in the global general aviation industry" said Meng Xiangkai, CAIGA president. "It has a very strong record of consistent product excellence, comprehensive safety features, an outstanding management team and a highly skilled workforce who operate from advanced production facilities. We look forward to working with Cirrus' management team to build upon its success and to expand production volume to further cement Cirrus' leadership position in the global general aviation industry."

Cirrus Aircraft Co-Founder Dale Klapmeier said the completion of the merger was an important milestone in the company's history: "This is a very positive development that allows us to continue our mission to develop and build the best, most exciting aircraft in the world. Through our merger with CAIGA Cirrus will continue to lead the industry in bringing increased safety, performance, and comfort to the general aviation community."

Known for incorporating luxury automotive ergonomics, pilot-friendly avionics and advanced safety features into its high performance airplanes, Cirrus has delivered nearly 5,000 new piston airplanes over the last decade. For nine years in a row, the Cirrus SR22 family of aircraft has been the best-selling four-place airplane in the world. Cirrus pioneered the use of the FAA-certified Cirrus Airframe Parachute System™ that is standard equipment on all Cirrus aircraft.

Press release issued by Cirrus Aircraft on June 28, 2011


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