Featured at the Dubai Airshow 2011, Contracts worth $350 million already secured
[Dubai, November 14, 2011] MEDRAR FINANClAL GROUP and DIAMOND AIRCRAFT HOLDINGS have announced today that an agreement has been signed for the acquisition of a majority interest of Diamond Aircraft Holdings, Canada. In addition to a range of Diamond Aircraft's gasoline powered piston aircrafts, the agreement also includes the revolutionary D-JET program.
The D-JET, an unprecedented concept that combines low acquisition and operating costs with practical performance and a high level of luxury and comfort, is designed for simplicity of operation, safety and affordability.
"The current state of the economy highlights the need and potential for aircrafts like the D-JET" said Jamil Marmarchi, CEO of Medrar. "People will always continue to travel and in the short to medium distance range, the D-JET offers a luxurious and affordable, yet socially and environmentally responsible alternative way to fly privately. Diamond has successfully demonstrated its ability to leverage its designs and technology to create entire product lines for the piston airplane market - we are excited not only by the D-JET but also by the derivative models to follow."
Christian Dries, Chairman of the Diamond Group commented, "Diamond has grown tremendously over the last decade and it will greatly strengthen our worldwide position to have a capable partner supporting our future growth and our existing business. We are pleased that Medrar has demonstrated their recognition of this potential with their significant commitment. We look forward to working seamlessly together to develop the Diamond brand and enhance its value."
"We are equally bullish about the future potential of the piston aircraft, especially in support of professional flight training, where we expect international pilot demands to drive a sustainable market for training aircrafts in the long term and maintain our leadership position," continued Marmarchi. "As a specialized asset management and investment firm based in Dubai, Medrar will ensure the company's capital needs are met and Diamond continues to lead the industry with emphasis on enhancing the D-JET market status."
Diamond Aircraft will be exhibiting a range of their planes including a mock up of the new and exciting D-JET at the Dubai Airshow 2011 at the Airport Expo from 13th - 17th November.
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About Diamond Aircraft:
Diamond Aircraft is a leading manufacturer of modern composite aircrafts, with the only complete range of modern technology certified aircrafts for personal and training use. Since 1981, Diamond has pioneered the application of certified composite aircraft structures, innovative propulsion systems and avionics technologies. Diamond has delivered over 4,000 single and twin engine piston aircraft to customers worldwide. The D-JET is the first and leading program for a new class of entry level Jets. Diamond operates production facilities in Canada, Austria and China.
About Medrar Financial:
Medrar Financial Group operating out of Dubai, UAE is an asset management and advisory firm led and managed by a group of investment bankers, fund managers and entrepreneurs. Medrar builds value through collaboration between its global network of financial and business partners, identifying unique investment opportunities and developing businesses from inception to fruition through the hiring of experienced management teams and applying efficient capital structures. Medrar's commitment to any business or investment ensures their partners the highest standards of corporate governance, financial analysis, business planning and execution. Medrar by its true definition is to grow and prosper by giving onto others.
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