EANS-News: FACC AG expands its business in the growth region of China (with
photo)
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Subtitle: Strategic partnership with AVIC in the manufacture of passenger cabins
for civil aircraft
Joint Ventures/Cooperation/Collaboration
FACC AG and Aviation Industry Corporation of China (AVIC) have re-confirmed
their plans to enter into a strategic partnership relating to the integration of
aircraft passenger cabins in China.In this cooperation,FACC will consult the
AVIC subsidiary Fesher Aviation Components, based in Zhenjiang, in
industrialization and manufacturing of passenger cabins for civil aircraft
destined for the Chinese market.
The contract was recently signed by Walter Stephan, FACC CEO, and Pang Zhen,
Vice President Civil Aircraft of AVIC, witnessed by the Austrian Vice-Chancellor
Reinhold Mitterlehner and the President of the Austrian Chamber of Commerce
Christoph Leitl. The agreed cooperation follows an agreement between Airbus and
AVIC, according to which AVIC will set up an A330 Completion and Delivery Center
in Tianjin that will likely cover activities such as cabin installation,
aircraft painting, engine runs and aircraft delivery.
"We have started our partnership with Chinese companies in early 2000. With the
majority owner AVIC behind us, we were able to successfully expand it over the
years," said Walter Stephan, FACC CEO. "The planned cooperation in the
production of the A330 passenger cabins will significantly widen our footprint
in China and allow us to participate in the region's rapid air traffic growth."
Within the scope of the cooperation, the proven experience of FACC in interior
cabin development shall be combined with the industrial capabilities and
manufacturing in China, whereas FACC shall act as a consultant for interior
development, change management, installation of production capabilities,
industrialization in China, establishment of the supply chain and the cabin
integration. The production of the passenger cabins will be done in the
composite manufacturing facility of Fesher Aviation Components in Zhenjiang,
about 250 km northwest from Shanghai. The new plant, a subsidiary of AVIC, was
designed by FACC and the construction was carried out in line with the
instructions from FACC. It was audited by Airbus and went into operation mid-
2014 acting as a strategic supply chain partner of FACC. The plant's resources
are available to FACC and product relocations to ensure competitiveness were
commenced simultaneously with the plant coming into service. FACC will fill most
of the capacity of the plant with the production of FACC programs and support
the plant through FACC on-site management.
Over the next years, FACC will relocate additional projects from Austria to
China, both to secure the company's attractive earnings profile in the medium to
long term, and also to free up capacities at the site in Austria to support
future growth. Along with these relocations, FACC plans to reduce manufacturing
costs, further decrease USD exposure, create production space for the
manufacturing of high-tech products and further expand the global manufacturing
network.
About FACC
FACC AG is one of the world's leading companies in the design, development and
production of advanced fiber reinforced composite components and systems for the
aviation industry. Their range of products reaches from structural components
for the fuselage and wings to engine components to complete passenger cabins for
commercial aircraft, business jets and helicopters. FACC is a supplier to all
large aircraft manufacturers such as Airbus, Boeing, Bombardier, Embraer,
Sukhoi, and COMAC as well as for engine manufacturers and sub-suppliers of
manufacturers.In the business year of 2013/14, FACC achieved a turnover of 547.4
million Euros. The companycurrently employs 3,100 employees.Further information
can be found under www.facc.com.
Pictures with Announcement:
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http://resources.euroadhoc.com/us/EOWgIr3G
Further inquiry note:
Andrea Schachinger
Corporate Communication
Tel: 059/616-1194
E-Mail: a.schachinger@facc.com
end of announcement euro adhoc
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Pictures with Announcement:
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http://resources.euroadhoc.com/us/EOWgIr3G
company: FACC AG
Fischerstraße 9
A-4910 Ried im Innkreis
phone: +43/59/616-0
FAX: +43/59/616-81000
mail: office@facc.com
WWW: www.facc.com
sector: Industrial Components
ISIN: AT00000FACC2
indexes:
stockmarkets: Regulated free trade: Wien
language: English
