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FACC acquired by Chinese aircraft company
(Xinhua)
Updated: 2009-12-04 11:54
The signing ceremony announcing the acquisition of Future Advanced Composite Components (FACC) by Xi'an Aircraft Industry Company Ltd of the Aviation Industry Corporation of China (ACIC) (Xi'an Aircraft-ACIC) was held in Austrian capital, Vienna on Thursday afternoon.
The vast majority of 91.25 percent stakes of FACC was acquired by Xi'an Aircraft-ACIC and Hong Kong ATL jointly, in which, Xi'an Aircraft-ACIC had absolute control.
It was the largest acquisition implemented by Chinese enterprises in Central Europe, and it also was the first time that an aerospace manufacturing company of Europe was acquired by Asian aerospace manufacturing company.
The Xi'an Aircraft-ACIC CEO Meng XiangKai told the reporter that Xi'an Aircraft-ACIC was actively "joining into the global aviation industry chain."
The acquisition of FACC was therefore "the latest step of Xi'an Aircraft-ACIC joining into the global aviation industry chain. It also indicated a major change in patterns of international cooperation."
The chairman of Austrian FACC Hannes Androsch noted in the interview with Xinhua that, the acquisition of FACC stakes by Xi'an Aircraft-ACIC is in favor of FACC's development. He believed the future of FACC was full of hope: "It created a good opportunity for FACC."
FACC is a large specialized company founded in 1989, engaging in manufacturing composite material in parts and systems. The main products of the company include aerospace structural components and aviation interior products.
It is the supplier of Airbus 380 and sub-tier supplier of Boeing 787, but also the aviation composite material supplier of such internationally well-known aircraft manufacturers as Boeing, Airbus, Bombardier, Alenia Aeronautica and Eurocopter.
Aeronautical composite material is mainly used for producing the aircraft structural parts and interior parts, including wings, fuselage, dome, windows, seats, interior decoration, and so on.
Due to its characteristics of high strength, heat-resisting and anti-fatigue, it is increasingly widely used in the field of application. In A380, aeronautical composite materials accounts for 25 percent of total weight of the aircraft, while for the B787 aircraft, it even reaches 50 percent.
Xi'an Aircraft-ACIC also created a new brand "Shenzhou" for Chinese civil aircraft. According to introduction, aircraft " Shenzhou 60" has received more than 170 orders. "Shenzhou 600" would also put into the market next year.
For purpose with participating in the intensive market competition, "Shenzhou 700" is also in the development program, which would be put into market by 2015.
Chinese Ambassador to Austria Wu Ken, and Deputy General Manager of ACIC Geng Ruguang also attended the signing ceremony.
