Sichuan mining firm flies off with 75 percent aviation stake

Leshan Heima Mining Co, a privately owned mining company in Leshan city, Sichuan province, has spent 15 million euros ($20 million) on a 75 percent stake in Lisa Airplanes, a French aircraft builder.

"The acquisition was achieved in early February and the company plans to move the production lines to China in two or three years, if the general aviation industry develops well in China," said Deng Gang, head of the foreign economic cooperation division of the Leshan commerce bureau.

Leshan Heima Mining Co, which operates in the phosphate rock-trading business, declined to comment, as it wants to keep a low profile on the acquisition, Deng said.