Business / Economy

Shanghai business HQ takes off

( Updated: 2014-04-09 17:52

AgustaWestland, the Anglo-Italian helicopter company owned by Italy's Finmeccanica, joined hands with Sino-US Intercontinental to launch a joint regional business headquarters in Shanghai on Wednesday.

The move is part of its strategy to expand the helicopter business in the Chinese market.

Daniele Romiti, chief executive officer of AgustaWestland, said, "This is a milestone event in our business expansion in China."

AgustaWestland has delivered 30 helicopters to Chinese customers in the past decade, accounting for 11 percent of the Chinese civilian helicopter market.

"Our objective is to increase our Chinese business by 20 to 30 percent year-on-year in the next five years," Romiti said.

The headquarters will benefit from the partnership established with Sino-US Intercontinental in the civilian helicopter market, he said.

Zou Jianming, chairman of Shanghai Zenisun Investment Group, the parent company of Sino-US Intercontinental, said: "By cooperating with AgustaWestland, we can introduce its cutting-edge technology and advanced operational system into China. This move will bring a new opportunity to our business expansion in the Chinese civilian helicopter market."

Sino-US Intercontinental, which has been appointed an official non-exclusive distributor for AgustaWestland civilian helicopters in China, excluding Hong Kong and Macao, has signed a distribution agreement covering the sale of 20 helicopters of various types.

More than 60 AgustaWestland helicopters, including undelivered ones, have been sold to domestic customers in the Chinese market so far.

Romiti said the company's presence in the region is expected to increase further due to an expanding market and the multi-role capabilities of its modern range of high performance helicopters.

By cooperating with Sino-US Intercontinental, AgustaWestland will establish a nationwide service network in China with the initial focus placed on Shanghai, Beijing, Dalian in Liaoning province and probably Chengdu in Sichuan province and Xi'an in Shaanxi, he said.

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