Diamond recalls workers. SALE: About 64 of 200 laid off in the spring return as deal to sell plant firms up

Workers are filtering back to Diamond Aircraft as a result of the London plant's sale to a Dubai owner.

Diamond began recalling laid-off workers last week and has boosted its workforce by 64 employees to 233, chief executive Peter Maurer said Monday.

Diamond isn't recalling about 36 other workers because there's no work for them, he said.

The plant also lost about 100 workers. Some were on contract and others left for other opportunities in the U.S. and Switzerland because manufacturers are looking for workers experienced in composite manufacturing, Maurer said.

Diamond makes two- and four-seat piston aircraft at its plant on Crumlin Sideroad and also is developing a light jet.

Last month, Medrar Financial Group in Dubai, United Arab Emirates, bought a majority interest in the London plant from the Dries family of Austria, who own Diamond and maintain a minority interest in the plant here.

The sale will allow Diamond to ramp up production of the five-seat D-Jet, a $1.5-million personal jet it hopes to sell in about two years.

It also will enable Diamond to better market its piston aircraft, Maurer said.

"We have a full agreement; it is finished and we are going through the process now to conclude it," Maurer said of the sale.

"It will help us across the board. We are able to make plans and have funding for them."

Maurer said the sale will allow Diamond to market its aircraft in South America and also offer financing options for buyers, things it was not able to do before.

"That will make it easier to sell our planes."

In the spring, Diamond laid off about half its 400 workers after the federal government refused its request for a $35-million loan to aid in developing the D-Jet.

As for its sales, Diamond has maintained a production pace, manufacturing about five piston-$powered planes a week, the same pace as last year, in a tough market.

But Diamond has increased its market share in that segment to 26% from 21% globally, Maurer said.

"It is still not good enough . . . We have a long way to go, but with Medrar's help, we will get there."

http://www.lfpress.com