Teledyne Continental Motors has been sold to Technify Motors, a subsidiary of AVIC International, a Chinese-based holding company with diverse business interests in the aerospace sector. The sale price, according to AVIC and Teledyne Technologies, was $186 million and terms of the sale included a commitment to remain in Mobile, where Continental has been on the former Brookley Air Force base since the 1960s.
I don’t understand how the Justice Dept. could allow this to go thru. Afterall, it could have a profound effect on our national security. Why don’t we just sell off Boeing, Lockheed, Hughes, General Dynamics, etc., to the highest bidder off shore while we’re at it.
I guess U.S. industry really does need foreign money to stay afloat.
Its a real shame. Don’t forget that Cessna’s Corvalis is made in China, disassembled and shipped to Wichita and assembled again. Shame on Cessna too.
This bears repeating! How could the government allow a strategic company to be sold to the Chinese - or any other foreign country for that matter?
Oh, never mind. Answered my who question by remembering who’s in charge.
ITYM SkyCatcher, not Corvalis.
Your right, my error.
Calling Teledyne Continental Motors a “strategic” company is more than a little hyperbole.
Only the GA engine division has been sold.