Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
AVIC General Aviation scouts for stakes in foreign firms
+ -
09:19, September 23, 2009

 Related News
 Jumbo jet finds many takers
 CIC purchases 15% stake in Noble Group
 Gold shares glitter on the bourses
 China's largest oil producer vows to maintain prominence for 50 more years
 Qinhuangdao coal prices surge on strong demand
 Comment  Tell A Friend
 Print Format  Save Article
AVIC General Aviation Co Ltd is seeking equity participation in a foreign general aviation aircraft manufacturer to strengthen its development capabilities and to explore the overseas market, a senior company executive said yesterday.

"We are now talking to several foreign companies. We might completely acquire (a company) or take a controlling stake. We hope to reach an agreement by the end of this year," said Tan Weidong, president of AVIC General Aviation Co Ltd, without revealing the names of the firms.

AVIC General Aviation also plans to list within the next three years, Tan said.

The company was set up last year to lead the development of general aviation airplanes. AVIC manages the Shanghai-listed Guizhou Aviation Industry Group Co Ltd, which produces trainers and unmanned aerial vehicles, and Shijiazhuang Aircraft Industry Co Ltd that manufactures light aircraft.

"We plan to form strategic partnerships with world leading manufacturers to develop more advanced general aviation aircraft, upgrade existing products and explore the overseas market," Tan said on the eve of the Aviation Expo/China 2009. The four-day expo will start today in Beijing.

Zhuhai in Guangdong province will become the company's base for research and development, marketing, final assembly, test flights and customer service, Tan said.

The company will focus on developing light multi-purpose turboprop aircraft and business jets, Tan said.

General aviation refers to all flights other than military and scheduled airline flights. China had about 900 general aircraft by the end of last year, according to figures from the Civil Aviation Administration of China.

A major constraint on the industry is airspace inconvenience and a lack of air and ground services.

Source:China Daily

  Your Message:   Most Commented:
Indian media stinks up public opinions
World's top ten most mysterious and horrible spots
Which country has the most beautiful women?
Baby alien found by Mexican farmer
How do India's middle school textbooks portray China?

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved