BIZCHINA / Overseas Investment
Airbus, China agree on establishing assembly line
(Xinhua)
Updated: 2006-10-27 13:59
European aircraft maker Airbus signed a framework agreement with China on
Thursday to establish an Airbus A320 assembly line in Tianjin, a port
city in north China.
Chinese President Hu Jintao and visiting French President Jacques Chirac
attended the signing ceremony at the Great Hall of the People in Beijing.
Under the framework agreement, which now needs the approval of the
Chinese government and the Board of Directors of the European Aeronautic
Defense and Space Co., the assembly line will go into operation in early
2009. It is scheduled to produce four Airbus A320 planes a month from
2011.
Airbus President and CEO Louis Gallois said at the ceremony that the
joint venture will be a long term strategic cooperation and will benefit
both parties.
He said Airbus will work with China to ensure that the Airbus A320 planes
produced in Tianjin will be up to the same standard as those manufactured
in other places.
"We are looking forward to the operation of the first A320 plane produced
in China," he noted.
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