IAI signs Chinese civil aviation agreement

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Israel Aerospace Industries will cooperate with the Shantou Municipal Government, Guangdong Airport Authority, and other Chinese partners.

Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) has signed a strategic framework agreement to cooperate with the Shantou Municipal Government of China, the Guangdong Airport Authority (GAA) and other Chinese partners, to develop and expand the local civil aviation industry as a lever of economic growth in the municipality.

IAI develops, manufactures, certifies, and markets civil aircraft. The Israeli company also has vast experience in aero-structures, aero-assemblies, aircraft maintenance and more. Based on IAI's center of excellence in these civil aviation topics, the company will evaluate, and provide recommendations to the local Government of Shantou on several initiatives: parts production and aero-assembly lines facility, aviation technical education and professional training facility, civil aviation development center and more.

IAI Civil Aviation Group head Gadi Cohen said, "The cooperation agreement with the city of Shantou is part of IAI's strategy to locate additional civil aviation growth drivers worldwide and particularly in China. This is another international validation of IAI's capabilities in this area. We are confident that these and other initiatives will open new business opportunities for us and our Chinese partners."

Published by Globes [online], Israel business news - www.globes-online.com - on December 24, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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