The assets acquired include not just the technology, but excellent facilities and manufacturing equipment, which when coupled with the knowledge and experience of the 200 former employees of Thielert provides an excellent base to start operations.

In addition, AVIC International intends to leverage its other international GA engine operations at Continental Motors, Inc, Mattituck Services, Inc and Zulu Flight Training to deliver world class technology and service covering both gasoline and Jet-A fueled piston engine technology.

"This acquisition adds excellent engine technology to the Continental Motors' brand that significantly accelerates product offerings that can compete in the global market," said Rhett Ross, Continental Motors, Inc president.

"We look forward to working with our new sister company to become an integrated leader in global aircraft piston engine products," he added.

AVIC International will operate two manufacturing locations dedicated to piston aircraft engines, including its original Mobile, Alabama site and the new St. Egidien, Germany site.

AVIC International Holding Corporation was set up in 1979 and is itself owned by the Chinese government through Aviation Industries of China (AVIC). Headquartered in Beijing, AVIC International delivered over 120 billion yuan ($19 billion) in revenue in 2012.

Technify Motors GmbH, a newly formed subsidiary of AVIC International, holds the acquired assets of Thielert and operates the business from its headquarters in St. Egidien, Germany.

Continental Motors Inc, a wholly-owned subsidiary of AVIC International is a leading manufacturer and service provider of certified piston aircraft engines and components used in propeller- driven general aviation aircraft engines for more than 80 years. AVIC International acquired Continental Motors in 2011.