Cessna to build business jets in China

Story Published: Mar 23, 2012 at 9:18 AM PDT

Story Updated: Mar 23, 2012 at 9:18 AM PDT

Scott Donnelly, CEO of Cessna Aircraft parent Textron, right, shakes hands with Xu Zhanbin, vice general manager of state-owned Aviation Industry Corp. of China, left, during a signing ceremony for a business jet cooperation project between the two corporations.

BEIJING (AP) - Business jet maker Cessna Aircraft Co. signed agreements Friday with Chinese partners to build business jets in China and explore other aviation 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 parties plan a joint venture to produce midsize Cessna business jets and possibly new models in the future.

The Chinese market is seen as the most promising major market for the industry.

Scott Donnelly, chief executive officer of Cessna's owner Textron Inc., said he expected significant growth in China's aviation market because of the country'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-sized aircraft.

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

Donnelly declined to comment on Cessna's projections for the Chinese market, only saying he expected "very, very robust" growth.

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.

Source: http://www.klewtv.com/news/business/Cessna-to-build-business-jets-in-China-143982616.html

matt cassel snowman playstation network down houston astros google music 2013 ford escape stop online piracy act