Cheng Shengzong
Cheng Shenzong, chairman of Qingdao Haili Helicopter Manufacturing and Superior Aviation Beijing, has agreed to acquire the financially troubled Hawker Beechcraft of the US for US$1.79 billion.
Earlier in his career, Cheng was a small businessman engaged in import and export, real estate and hotels. Since 2007, he has switched to the general aviation field, establishing Qingdao Haili Helicopter Manufacturing and becoming its chairman. The company is located in the Qingdao Development Zone in Shandong province, with registered capital of US$10.25 million and total investment of US$23.25 million, occupying an area of approximately 100 acres.
The little-known businessman became a big shot in 2009 after buying Superior Air Parts in the US, which had filed for bankruptcy, for US$7 million, earning himself the name "King of the Chinese Helicopter."
By the invitation of Beijing's vice mayor, Haili moved its headquarters to the Beijing Economic Development Area in 2010. Cheng hopes that through the trading business, the helicopters and engines made by Superior can be sold around the world.
Superior is 60% owned by Cheng. The company plans to have an annual production capacity of 80 Brantly B-2B helicopters, according to Haili's website.
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