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)