October 21, 2009

China Buys Euro Aircraft Technologies

The Xi'An Aircraft Industry Group, part of China's AVIC conglomerate, will acquire FACC AG an Austrian company that specializes in composite components. FACC has an active research and development focus and already supplies COMAC (Commercial Aircraft Corp. of China) as well as Airbus and Boeing. The deal is meant to give Xi'An Aircraft access to FACC's new technologies and potential control over its supply capacity a strategic move as China further develops its aerospace industry....

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