Boeing Awards China Firms $500 Million Supply Contracts
Boeing Awards China Firms $500 Million Supply Contracts
Quote:
Boeing Co. said on Friday it had awarded commercial airplane parts and components supply contracts worth $500 million to Chinese firms, including Hafei Aviation Industry Co. Supply contracts, including for parts for the jumbo 747-8 aircraft, were also agreed with subsidiaries of state-owned Chinese aircraft makers AVIC I and AVIC II.
Both Boeing and its European rival, Airbus, have awarded sizeable parts contracts to Chinese manufacturers while also seeking to secure aircraft orders in the nation's fast-growing aviation sector.
Airbus has agreed to set up an aircraft assembly facility with three Chinese partners in the northern port city of Tianjin, with production scheduled to start in 2009.
