Zhuhai, China-At the Zhuhai Air Show GKN Aerospace, COMAC subsidiary SAMC
(Shanghai Aircraft Manufacturing Company) and AVIC International (Aviation
Industry Corporation of China) have today signed a Framework Agreement to
establish a joint venture for aero structures manufacturing in China. This
Framework Agreement enshrines the progress made by the parties since signing an
MOU in September 2017 and represents a significant milestone in their
co-operation together.
The joint venture is scheduled to begin production fourth quarter in the year 2021 in a new state-of-the-art facility. Locations are currently being evaluated. The joint venture will manufacture products for the civil aerospace market. This development puts the partners at the heart of the Asian aerospace market which is a key growth market for the future.
The new joint venture will open up new business opportunities
for GKN Aerospace’s industry-leading aero structures business and its
partners.GKN Aerospace and its partners will, as a result of the joint venture
be able to offer its customers technologically advanced aero-structures both
metallic and composite that have a proven record in the global market. After the start-up period the scope of the
joint venture will be extended to include design and development capability.
The expansion to Asia is an important part of GKN Aerospace’s
long-term growth strategy and global operating model. This summer GKN Aerospace
announced a new wiring systems plant in Pune, India and in October GKN
Aerospace officially opened a new aero-engine repair and research plant in
Johor Malaysia. GKN Aerospace now operates seven facilities in Asia, delivering
wiring systems, transparencies and services in China, India, Malaysia,
Singapore, Thailand and Turkey.
With this Chinese joint venture, GKN Aerospace’s business will
have its first aero structures venture in the Asian-Pacific region. The
establishment of the joint venture is subject to the fulfillment of certain
conditions including but not limited to approvals by the relevant authorities.
John Pritchard, CEO Aero structures and Systems Europe and Asia
said, “We are proud to extend our footprint in China by working together with
our committed partners COMAC, SAMC and AVIC.
We foresee that the combination of our joint dedicated teams, technology
leadership and extensive aerospace experience will lead to exciting growth
opportunities. This will be the first aero structures venture for GKN Aerospace
in China. It strengthens our enduring
partnership and commitment with this country.
We need to be close to our customers and partners and support the solid
growth of the aerospace industry in China.”
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