Subscribe to our free daily newsletters
  Space Industry and Business News  




Subscribe to our free daily newsletters



AEROSPACE
Chinese plane maker buys US Cirrus

by Staff Writers
Beijing (AFP) March 2, 2011
A unit of China's biggest plane maker has agreed to buy US small aircraft builder Cirrus, in what state media said Wednesday was the country's first acquisition of a US or European competitor.

China Aviation Industry General Aircraft Co (CAIGA), part of state-owned Aviation Industry Corporation of China, signed a "definitive" agreement to acquire Cirrus Industries Inc, the companies said in a statement.

"We are very optimistic to begin our partnership with Cirrus and add Cirrus's strong brand as the cornerstone in our aviation product portfolio," Meng Xiangkai, the Chinese firm's president, said in the statement dated Tuesday.

Cirrus is the world's second largest general aircraft maker after Cessna by the number of planes delivered, the companies said.

The US company said its single-engine Cirrus SR22 family of aircraft has been the world's best-selling four-seat airplane for nine years.

Its general-purpose aircraft are mainly used as private planes or serve purposes other than security, military and public transportation.

The companies expect the deal, which is still subject to Chinese and US regulators' approval, to close in April.

No financial details were disclosed.

The state-run China Daily hailed the deal as "an important step for (CAIGA's) global expansion", adding it would be a springboard for the Chinese firm to enter the United States, the world's largest general aviation market.

Cirrus delivered nearly 5,000 piston-engine airplanes to 58 countries and regions over the past decade, but only about nine of those were sold to buyers in mainland China, the newspaper cited Meng as saying.

CAIGA will market three Cirrus aircraft and service them on the mainland, Meng said, adding it was considering a production line in China to bring down the cost of Cirrus planes.

Brent Wouters, Cirrus's president and chief executive officer, said in the statement the deal would benefit his company and have a positive impact on jobs.

"CAIGA brings new resources that will allow us to expedite our aircraft development programmes and accelerate our global expansion," he said, adding the Chinese firm would continue to use Cirrus' US production facilities.







Share This Article With Planet Earth
del.icio.usdel.icio.us DiggDigg RedditReddit
YahooMyWebYahooMyWeb GoogleGoogle FacebookFacebook



Related Links
Aerospace News at SpaceMart.com



Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News


AEROSPACE
US "air capital" savors Boeing tanker victory
Wichita, Kansas (AFP) Feb 24, 2011
On a day as cold and dreary as this US city's economy, residents were hoping against hope Thursday for good news. Shortly after the stock market closed, they got it. The US Air Force announced that Boeing had won a $30 billion contract for mid-air refuelers, beating out European Aeronautic Defence and Space Co, parent of Airbus. "We got it!" yelled an employee leaving the sprawling Boein ... read more







AEROSPACE
Hundreds of thousands of downloads for The Daily

iPad, other tablets hit PC demand: Gartner

Satellite Remote Sensing: Light Detection And Ranging The Next Big Thing

NIST Expert Software Lowers The Stress On Materials Problems

AEROSPACE
LockMart Wins Role On Navy C4ISR Services Contract

ONR Moves A Modular Space Communications Asset Into Unmanned Aircraft For Marines

Northrop Grumman Next-Gen FBCB2 System Approved For Fielding

Boeing To Demonstrate Aviation Command And Control Subsystem For US Marine Corps

AEROSPACE
NASA Earth observation satellite fails to reach orbit

Russia Lacks Enough Carrier Rockets To Fulfill 2011 Launch Plans

NASA Assessing New Launch Dates For The Glory Mission

Successful Launch Of REXUS 9

AEROSPACE
China To Establish Global Satellite Navigation System By 2020

EGNOS Navigation System Begins Serving Europe's Aircraft

Beijing to trial mobile tracking system: report

Shark Tracking Reveals Impressive Feats Of Navigation

AEROSPACE
Chinese plane maker buys US Cirrus

EADS will not protest Boeing tanker contract

US "air capital" savors Boeing tanker victory

China to spend $230 bn on aviation sector

AEROSPACE
New Generation Of Optical Integrated Devices For Future Quantum Computers

JQI Physicists Demonstrate Coveted Spin-Orbit Coupling In Atomic Gases

New MIT Developments In Quantum Computing

Development Team Achieves One Terabit per Second Data Rate On Single Integrated Photonic Chip

AEROSPACE
New Day Dawns For Satellite To Study Earth's Ozone Layer

NASA's Bolden defends Earth science

NASA to launch Earth observation satellite Friday

Good Progress On Troubleshooting

AEROSPACE
Death sentences for Indian train burners

Pollution a threat to China's growth

Russia jails four environmentalists after protest

Kenya, France seek new global environment body


The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement