In Prague on April 26, 2016, Czech aircraft manufacturer ALTO signed a contract with the Chinese Wanfeng Aviation Industry Company based in Zhejiang Province. The contract includes sale of the license and technological transfer of the aircraft production to China.
With an annual turnover of more than 3 billion USD, Wanfeng Group – after becoming the world’s largest manufacturer of automotive aluminum wheels – is diversifying its activities into modern technology industries, primarily robotics and aviation. Wanfeng evaluated the ALTO technology and production transfer as the best prepared which will make it a pilot project in this area.
Wanfeng Group plans to invest up to 4 billion CZK in the Czech aviation industry in the course of coming years.