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This is an archive article published on November 15, 2009

GE for China aviation JV: Statement

GE's aviation unit and China's state-run Aviation Industry Corp said they had agreed to form a JV.

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General Electric Co8217;s aviation unit and China8217;s state-run Aviation Industry Corp said they had agreed to form a joint venture to develop and market systems for commercial aircraft.

The two companies said in a joint statement they aimed to launch the new joint venture by mid-2010 and were awaiting regulatory approval.

The new company will be headquartered in China and will target global markets,the statement said.

Lorraine Bolsinger,president and chief executive for GE8217;s aviation systems business said the new venture wanted to work with the Commercial Aircraft Corporation of China on a proposed 168 to 190-seat aircraft.

Commercial Aircraft Corp of China,already markets the ARJ21,China8217;s first 90-seat regional jet.

No financial details of the deal were released.

 

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