Cessna signs deal with Chinese to build business jets

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BEIJING (AP) – Business jet maker Cessna Aircraft signed agreements Friday with Chinese partners to build business jets in China and explore other opportunities.

The Kansas-based company is joining with state-owned Aviation Industry Corp. of China and the municipal government of Chengdu in western China, where the three plan a joint venture to produce midsize Cessna business jets and possibly new models in the future.

Cessna's press release says the deals announced Friday "pave the way for a range of business jets, utility single-engine turboprops and single-engine piston aircraft to be manufactured and certified in China."

China is seen as the most promising major market for the aviation industry.

Scott Donnelly, chief executive officer of Cessna's owner, Textron (TXT), declined to comment on Cessna's projections for the Chinese market, only saying he expected "very, very robust" growth because of China's growing economy and diverse geography.

So far, China's private jet market has been dominated by Bombardier and Gulfstream, which make larger jets than Cessna's small and medium-size aircraft.

Cessna officials on Friday said there are about 200 Cessna aircraft in China.

The signing between AVIC and Cessna comes two days after Bombardier signed an agreement with state-owned Commercial Aircraft Corp. of China to collaborate on common parts for their aircraft.

Cessna signs deal with Chinese to build business jets – USATODAY.com

 

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Jaguar Land Rover to build vehicles in China with Chery Automobile joint venture

MUMBAI, India — Jaguar Land Rover and China's Chery Automobile Co. plan to start a joint venture to make and sell luxury vehicles in China, the companies said Wednesday.

Jaguar Land Rover, which is owned by India's Tata Motors, has long wanted to set up shop in China, one of the company's fastest-growing markets.

China accounted for 1 percent of Jaguar Land Rover sales in 2005, but is now its third largest market after North America and the U.K. China sales rose 60 percent in 2011 to 42,000 vehicles.

The joint venture will manufacture engines as well as Jaguar and Land Rover and joint-venture branded vehicles. The companies also plan to open a research and development facility.

"Demand for Jaguar and Land Rover vehicles continues to increase significantly in China and we believe that JLR and Chery can jointly realize the potential of these iconic brands in the world's largest car market," JLR chief executive Ralf Speth and Chery chief executive Yin Tongyao said in a joint statement.

The companies did not disclose financial details of the deal Wednesday, which still needs regulatory approval.

Chery sold 643,000 vehicles in 2011, making it China's sixth largest passenger vehicle manufacturer.

Jaguar Land Rover to build vehicles in China with Chery Automobile joint venture - The Washington Post

 

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Bloomberg News

Huajian of China's Ethiopian Export Zone May Generate $4 Billion

By William Davison on March 22, 2012 Tweet

Huajian Group, a Chinese shoe maker, plans to build a manufacturing zone in Ethiopia that may generate $4 billion of exports a year within a decade, Vice President Helen Hai said.

Construction of the 320-hectare (791-acre) site in Lebu on the outskirts of the capital, Addis Ababa, may start before the rainy season begins in June, Hai said in an interview on March 20 in Dukem, 30 kilometers (18 miles) southwest of the city.

Huajian of China's Ethiopian Export Zone May Generate $4 Billion - Businessweek