?
"We have received approval from the government and have lined up
all the capital needed. More than two banks have provided
(financial) support to us," said Lin Zuoming, general manager of
AVIC I.
AVIC I, a long-time subcontractor of Airbus, said during the
Paris Air Show last month that it would invest in or buy the six
plants Airbus plans to sell.
The European aircraft manufacturer is hiving off the plants to
save costs as part of its Power8 restructuring plan.
The first three sites are Filton in Britain, Meaulte in France
and Nordenham in Germany. Airbus will bundle the composite material
work packages of the A350, due to enter services in 2013, in the
plants. The other three sites are Laupheim and Varel in Germany and
Saint-Nazaire in France.
"But there are still many complicated factors that hobble the
bid," Lin said, adding that AVIC I has not received any bidding
invitation from Airbus. The current bidders are aviation
manufacturing enterprises in North America and Europe.
Lin declined to tell what the "complicated factors" are.
Analysts said "political interference" could be a major problem
facing AVIC I as the aviation manufacturing industry represents a
nation's final test of technological advancement, and China has
expressed its ambition to break the duopoly of Boeing and Airbus in
the global aviation market.
"China's emergence has made many people nervous. But (if the
bidding is successful), we would only complement, rather than
threaten anybody," Lin said.
Airbus has subcontracted component manufacturing to China for
more than 20 years and the volume will exceed $60 million this year
and double that amount by 2010.
More than half of Airbus' worldwide fleet is equipped with
components manufactured in China, including the rear passenger and
emergency exit doors and the wing box of the A320-family aircraft,
the electronics bay doors, brake blades and medium air duct for the
A330 and A340 aircraft.
(China Daily July 19, 2007)
