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. (For more biz stories, please visit Industry Updates)
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