China Aviation Industry Corporation (AVIC) is to acquire Minnesota-based aircraft manufacturer Cirrus Industries for an undisclosed amount.

The deal will provide AVIC access to Cirrus’s technology, which includes a small jet in development.

The new jet, named Vision, will include five full-size seats.

The acquisition will also give AVIC the scope to enter the US general-aviation market, the world’s largest.

The deal will be finalised by the middle of 2011, according to the Wall Street Journal.

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