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Two-seat amphibious plane maker Icon Aircraft is set to undergo the next stage of its corporate restructuring with the relocation of a portion of its manufacturing footprint to a new facility in China and the departure of longtime President Jason Huang, according to a letter sent by Huang to Icon A5 owners.
This development represents a significant realignment for the company which earlier this year was purchased by SG Investment America (SGIA) as a part of ongoing Chapter 11 bankruptcy proceedings. SGIA, through several subsidiaries, is directly linked to Shanghai-based Pudong Science and Technology Investment (PDSTI) Company, Icon’s largest investor.
Related: Tracing Icon Aircraft’s path to bankruptcy
With that purchase, Icon joined the slew of other American general aviation companies now owned by entities outside the U.S. including Piper (owned directly by the Sultan of Brunei), Cirrus (owned by China Aviation Industry General Aircraft Co., a subsidiary of the Aviation Industry Corporation of China) and Epic (owned by Cyprus-based businessman Vladislav Filev).
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