CRI听力:Chinese Aviation Industry

The Austria based orgnisation FACC AG is one of the world's leading companies in development and production of advanced fibber reinforced composite components and systems for the aviation industry.

Begining today the company will be under new management by China's Xi'an Aircraft Industry Company and Advanced Treasure Limited. The two companies' majority acquisition was officially announced in October this year and formally completed today. The new management holds 91.25% of shares of the leading Austrian aerospace supplier.

Meng Xiangkai, chief executive of Xi'an Aircraft says this will help their company develop business capabilities as well as improve their international influence within the industry.

"We want to use resources domestic and international. With this purchase, we will reasonably use FACC as a Europe based research center while enhance its technological achievements on our China based manufacturing facilities."

Industry experts say the aviation industry has stepped into the age of composite component. Once aircrafts used to be made from metal based material, but the lighter and stronger composite component materials soon became more ideal for further flight duration and reduced fuel consumption.

"The aviation industry is changing. What they've done is meaningful and will encourage the domestic industry to catch up with the rest of the world."

According to Chinese aviation industry insiders, the Xi'an Aircraft Industry Company has been successful on its own with prototype airplanes on order all over the world, and earned more than 100 million Yuan last year. But their technologies are still heavily based the metal materials. They'll have to go composite component if they want to step anywhere further.

Being the leading supplier and manufacture of composite component, FACC specializes on the area which Xi'an Aircraft is lacking.

Representatives from Xi'an Aircraft and Advanced Treasure Limited are going to Austria to make sure the final stage if the transfer of management goes well. From a paper layout point of view, it looks like the deal is benefiting the Chinese aviation industry on all fronts.

From China Drive I'm Zhao Kun.