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Embraer and Avic Announce Joint Venture to Build Executive Jets in China
During China´s Prime Minister Wen Jiabao’s visit to Brazil for the Rio+20 Conference, in a signing ceremony witnessed by leaders from both nations, Embraer S.A. (BOVESPA: EMBR3, NYSE: ERJ) and Aviation Industry Corporation of China (AVIC) signed an agreement to build Embraer’s Legacy 600/650 executive jets in China, using the infrastructure, financial resources and workforce of their joint venture Harbin Embraer Aircraft Industry Co., Ltd. (HEAI), which started operations in 2002. (www.aviatime.com) More...
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Not real good for the rest of the players in the market, especially since the government owns 1/2 of it. Of course, they'll have to put out a good product but Embraer hasn't ever built anything real bad. Just sayin'
I find the rate that aircraft manufacturing is moving to China a little concerning, that said, Airbus already has a plant there, Cessna is building Skycatchers there, with Sovereign jets to follow, it makes sense that Embraer wants to do the same.
Much of what is built there will also be consumed domestically within China and Asia, but that said, we're buying so much stuff from them, why can't they buy business jets from us? Seems like a strategy to sabotage one of the few industries still dominated by the west; making airplanes. The auto industry in Japan grew to domination this way by learning from the west in 'joint ventures', China's aerospace industry will do the same if this trend continues.
Much of what is built there will also be consumed domestically within China and Asia, but that said, we're buying so much stuff from them, why can't they buy business jets from us? Seems like a strategy to sabotage one of the few industries still dominated by the west; making airplanes. The auto industry in Japan grew to domination this way by learning from the west in 'joint ventures', China's aerospace industry will do the same if this trend continues.
