Diamond Aircraft, whose Canadian plant is based in London, Ont., is now in the hands of a Chinese firm and poised for expansion.

Wanfeng Aviation Industry acquired the remaining shares of the Austrian company just before Christmas.

The Chinese firm initially bought a 60 per cent piece of the company's Canadian division in 2016 which saw employment and production increase at the London plant.

"Everything is under one umbrella and that's very positive," said Peter Maurer, CEO of Diamond Aircraft Canada.

He anticipates the company's London facility will continue to grow under the new ownership agreement. It currently manufactures a variety of aircraft, including the DA62, a seven-seat luxury plane.

"We're currently at 180 employees and we expect to go to 300 by December 2018."

Maurer said the only difficulty with an expansion is finding qualified employees in the region, an issue he says the company will work to overcome.

The London plant opened 25 years ago when former CEO Christian Dries purchased the Central Aircraft Factory.

New owner Wanfeng Aviation already has investments in southwestern Ontario, having purchased the Diamond Flight Centre in 2015.

The Chinese firm also owns Meridian Lightweight Technologies, a magnesium die casting supplier to the automotive industry, based in Strathroy.