Home / Business / More News Tools: Save | Print | E-mail | Most Read | Comment
Airbus to Have Majority Stake in Tianjin Assembly Plant
Adjust font size:

European aircraft manufacturer Airbus will hold a majority 51 percent stake in the new Tianjin assembly facility, according to Zhang Hongbiao, general manager of China Aviation Industry Corp. Two (AVIC Two).

 

The remaining 49 percent will be held by an entity called Tianjin Zhongtian Aviation Industry Investment Co., Zhang said. Investors in the new Chinese company include Hafei Avaiation Industry Co. and Jiangxi Hongdu Aviation Industry Co., both of which are affiliated to AVIC Two, Tianjin Bonded Zone Investment Co., and China Aviation Industry Corp. One (AVIC One), the other leading Chinese aircraft maker.

 

The Chinese company's registered capital of 300 million yuan (US$39 million) includes 180 million yuan from Tianjin Bonded Zone Investment, 60 million yuan from AVIC One, 30 million yuan from Hafei and a further 30 million yuan from Hongdu.

 

The joint-venture aircraft assembly facility will begin operating early in 2009. By 2011 it will be producing four A320 planes a month. Total investment in the project is estimated at eight to ten billion yuan.

 

(Xinhua News Agency April 23, 2007)

 

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Airbus A380 Double-decker Superjumbo Takes off
- China, Airbus Sign Deal for 170 Airbus Planes
- Airbus A380 Arrives in Shanghai
- China to Be Airbus' Latest Outsourcing Partner
Most Viewed >>

Product Directory
China Search
Country Search
Hot Buys