On 17 July 2008, the company announced that on 15 July 2008 Harbin Aircraft Industry Group Co., Ltd., a major shareholder of the company, and Airbus China signed a framework contract to jointly establish a manufacturing center in Harbin for composite aircraft parts at the beginning of 2009.

The joint venture, in which Harbin Aircraft will hold an 80% stake and Airbus China will hold a 20% stake, will be engaged in the production of parts for Airbus A320 series aircraft and packages for A350XWB in accordance with the standards and techniques of Airbus.

Pang Jian, President of Harbin Aircraft, claims that Harbin Aircraft is a global supplier for Airbus and a shareholder of Airbus (Beijing) Engineering Technology Centre, a Sino-foreign joint venture. The establishment of the manufacturing center is a big step for further cooperation between Harbin Aircraft and Airbus.

Source: China Securities Journal

Date: 17 Jul 2008

CN01/BG/MZ/MR/KM