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Airbus strikes new China joint venture

Jan. 30, 2009, Paris, France - Airbus said today that it has reached a deal with Chinese partners to set up a manufacturing centre for aircraft composite parts in the northern city of Harbin.


January 30, 2009
By The Associated Press

Jan. 30, 2009, Paris, France – Airbus said today that it has reached a deal with Chinese
partners to set up a manufacturing centre for aircraft composite
parts in the northern city of Harbin.

The joint venture is expected to reap US$100 million in annual
revenue starting in 2015, Airbus spokesman Stefan Schaffrath said.
It will be half-owned by Harbin Aircraft Industry Group and 20 per
cent-owned by Airbus China, while three other Chinese partners will
each have 10 per cent stakes.

The centre will produce composite material parts and components
for the Airbus A350 XWB program and for A320 family airplanes, the
European aircraft maker said in a statement.

Laurence Barron, the president of Airbus China, said the project "demonstrates once again Airbus' long term commitment to the
sustainable development of China's aviation industry,'' according to
the statement.

Airbus said its industrial co-operation with China dates to 1985,
and today about a half-dozen Chinese manufacturers are building
parts such as wing components and emergency-exit doors for its
planes.