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GE and AVIC Joint Venture Creates New Global Business Opportunities

Dépèche transmise le 15 novembre 2009 par Business Wire

GE and AVIC Joint Venture Creates New Global Business Opportunities

BEIJING--(BUSINESS WIRE)--GE Aviation of the United States and AVIC Systems of China today announced agreement on forming a new joint venture company to develop and market integrated avionics systems for commercial aircraft customers. The announcement was made as part of "GE's Clean Technology Week in China" activities.

Jeff Immelt, Chairman and CEO of GE and Lin Zuoming, president of AVIC, signed a framework agreement for open architecture avionics. Definitive documentation is being put in place with the goal of launching a new JV company by mid-2010, subject to receiving all required regulatory approvals.

“GE has a fabulous history of forming global partnerships that create new global business opportunities,” said Immelt. “This builds on one of GE’s great strengths. The new company combines GE and AVIC capabilities to develop commercial integrated systems to meet aviation’s growing demands. We will utilize the best civil aviation technology, manufacturing capabilities, and management practices to create a globally competitive company.”

The new avionics company, to be headquartered in China, will offer fully integrated, open architecture avionics and services for future commercial aircraft programs. GE will build on its extensive avionics capabilities and its China Technology Center in Shanghai to create a technology center of excellence to serve the commercial aviation market.

“The joint venture and cooperation will offer customers highly competitive solutions that will benefit from the expertise of two industry leaders,” said Lin. “AVIC and GE will work together to build on the most advanced open architecture avionics in the world for the commercial aviation industry. The joint team will create a competitive company with a global strategy to benefit China and the United States.”

“The joint venture creates approximately 200 jobs in the U.S., in addition to creating bilateral industrial cooperation with China,” said Lorraine Bolsinger, president and CEO for GE’s Aviation Systems business. “Our immediate focus is to jointly bid the best, competitive solutions to compete for the COMAC C919 narrow-body aircraft program. This includes an open architecture Integrated Modular Avionics (IMA) platform.”

“Aviation is a national priority in China to everyone’s benefit. The joint venture creates a major integrated supplier to airframers worldwide,” continued Bolsinger. “Our participation helps the U.S. to grow high-tech jobs and capabilities, while serving the aviation market with the latest technology. This is an exciting opportunity for global careers in commercial avionics.”

GE Aviation brings an extraordinary history, experience and knowledge to the joint company, with more than five decades of avionics and integration experience.

Zhang Xinguo, AVIC vice president, said: "AVIC and GE have been actively responding to the requests for C919 key systems by COMAC. We are building a long-term partnership through the joint venture and will provide C919 with advanced technologies and products of avionics systems. The joint venture is based in China but will target the U.S. and the global market as we work together to achieve mutual benefits and win-win."

To learn more about GE news in China, visit http://www.ge.com/chinanews.

Listen to Lorraine Bolsinger's podcast regarding the announcement: http://files.gecompany.com/gecom/news/chinanews/lorraine-bolsinger.mp3

AVIC has more than 20 years of experience providing integrated avionics systems for various types of aircraft. AVIC has rich experience in developing and manufacturing these systems and providing maintenance service. http://www.avic1.com.cn/english/englishIndex.asp

GE Aviation, an operating unit of GE (NYSE:GE), is a world-leading provider of jet engines, components and integrated systems for commercial and military aircraft. GE Aviation has a global service network to support these offerings. www.ge.com/aviation

GE Aviation is a global company offering unrivaled opportunities for aspiring executives, managers and engineers. To learn more about these opportunities, visit www.geaviation.com/joinus/