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EADS' Airbus to retain 51 pct stake in Tianjin assembly plant


(Forbes)EADS unit Airbus will retain a 51 pct stake in its joint venture with Chinese partners to manage an assembly plant in Tianjin, Airbus' Chinese partner said.

The Chinese news agency New China cited Zhang Hongbiao, chief executive of China Aviation Industry Corp Two (AVIC II), as saying the remaining 49 pct stake in the joint venture will be held by a new company, Tianjin Zhongtian Aviation Industry Investment.

This new company will have a share capital of 39 mln usd, and its two main investors will be AVIC II and China Aviation Industry Corp One, China's other leading aeronuatics constructor.

The A320 assembly plant, Airbus' first outside Europe, will begin operating from 2009 and should produce four aircraft per month by 2011.

From:   2007-04-27 13:56

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Editor: Zhang Jialu
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