Eaton Corp. & Shanghai Aircraft Manufacturing Co., Ltd. Announce Joint Venture Agreement to Support COMAC C919 Aircraft Platform
12 Luglio 2010 - 8:02PM
Business Wire
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN)
and Shanghai Aircraft Manufacturing Co., Ltd. (SAMC), a subsidiary
of Commercial Aircraft Corporation of China (COMAC), today
announced they have signed a joint venture agreement to support the
COMAC C919 single-aisle commercial aircraft program. The formation
of the joint venture, the first for the COMAC enterprise with a
foreign company, is subject to regulatory approvals and customary
closing conditions.
The planned joint venture will be based in Shanghai and will
focus on the design, development, manufacturing and support of fuel
and hydraulic conveyance systems for the global civil aviation
market. Total program value for C919 conveyance systems, including
aftermarket opportunities, is estimated at $1.8 billion, based on
an anticipated volume of 2,500 aircraft.
“This joint venture demonstrates Eaton’s continued commitment to
expand its overall presence in China,” said Craig Arnold, Eaton
vice chairman and chief operating officer – Industrial Sector. “The
comprehensive conveyance system engineering and manufacturing
capabilities that will reside in our joint venture with SAMC will
strengthen Eaton’s presence in China’s aviation industry. We look
forward to working with SAMC to develop this unique full-service
capability for the global civil aviation market.”
Today’s announcement follows a joint venture framework agreement
signed by the two companies in December 2009. SAMC will own a 51
percent interest in the new joint venture; Eaton will own a 49
percent interest.
Eaton employs a workforce of 10,000 and has 27 operations in
China. Eaton’s Asia-Pacific regional office is in Shanghai.
Shanghai Aircraft Manufacturing Co. Ltd. (SAMC) is a subsidiary
of Commercial Aircraft Corporation of China (COMAC). As the
assembly and manufacturing center of COMAC, Shanghai Aircraft
Manufacturing Co. Ltd. (SAMC) is mainly engaged in the
manufacturing, final assembly, parts assembly, delivery,
maintenance of the commercial aircraft parts, pilot flight and
other services.
Eaton’s Aerospace Group is a leading supplier of hydraulic,
electro-hydraulic pump and generator products and integrated
systems; electric motors; aircraft flap and slat systems; fluid
conveyance products and systems; nose wheel steering systems;
integrated control systems; cockpit controls; power and load
management systems; and pressure sensors and fluid debris
monitoring products and systems. Eaton serves commercial and
military aviation, aerospace, marine and off-road markets
worldwide.
Eaton Corporation is a diversified power management company with
2009 sales of $11.9 billion. Eaton is a global technology leader in
electrical components and systems for power quality, distribution
and control; hydraulics components, systems and services for
industrial and mobile equipment; aerospace fuel, hydraulics and
pneumatic systems for commercial and military use; and truck and
automotive drivetrain and powertrain systems for performance, fuel
economy and safety. Eaton has approximately 70,000 employees and
sells products to customers in more than 150 countries. For more
information, visit www.eaton.com.
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