Please, please tell me... the date on this media release is April 1st...
This just goes to show the absolute, total sellout, of Corporate America, to China. They would sell their grandmother for the value of the gold in her back teeth.
According to Teledyne, the sale allows it to focus on its core businesses, while helping Continental Motors to enter the global market for the sale and service of aviation piston engines, especially in China.
Compared to 230,000 general aviation aircraft in the U.S, China has around 900 small aircraft operating in the country, the company said in a statement.
So... by the CEO's reasoning, this means that he expects every 10th Chinese person, will own a Continental piston-engined aircraft in the next 10 years.
Yep, I can really see that happening... in a country where they won't even give any Chinese national, full access to the Internet.
I think this bloke must have seen the vid of the Chinese bloke that built his own chopper, from his own plans... and must have come to the conclusion that every 2nd Chinese person has an over-riding urge to fly...
Perhaps his own 2IC produced a pie chart in a management meeting... showing that increased market penetration of the Chinese piston-engine aviation market, in the order of .02%, equals another 280,000 engines... and the figures absolutely dazzled him...