Safran and COMAC to create aircraft wiring joint venture, strengthening partnership on C919
Paris, February 24, 2011
Labinal, a Safran group company, and Shanghai Aircraft Manufacturing Co., Ltd. (SAMC), a subsidiary of Commercial Aircraft Corporation of China (COMAC), today announced that they have signed a framework agreement for the establishment of a joint venture company.
The contract was signed in Shanghai by Ms. Karen Bomba, President and CEO of Labinal and Mr He Dongfeng, Vice-President of COMAC & President of SAMC. Also attending the ceremony were Mr Yves Leclère, Safran Executive Vice President, Aircraft Equipment, and Mr Wu Guanghui, Vice-President of COMAC & Chief-Designer for the C919.
Based in Shanghai, the joint venture will focus on the design, development, production and support of EWIS (Electrical Wiring Interconnection Systems) for the Asia Pacific aerospace market. The joint venture has been tasked with the execution of the C919 EWIS Program. COMAC has forecasted a global market for more than 2,000 C919 aircraft over the 20 years following entry into service.
SAMC will own 51 percent of the joint venture and Labinal 49 percent.
"After Safran's selection as supplier of the complete propulsion system for the COMAC C919, this agreement marks a further step forward in the Group's role in the success of this commercial aircraft," said Yves Leclère.
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Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Safran group has more than 54,000 employees and generated sales of 10.8 billion euros in 2010. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of 1.2 billion euros in 2010. Safran is listed on NYSE Euronext Paris and its share is part of the SBF 120 and Euronext 100 indexes.
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