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    First overseas acquisition of aviation industry by XAC


    On December 3 local time, AVIC XAC and FACC held an equity delivery ceremony in Austria. This is the first overseas merger and acquisition of China's aviation industry, the largest enterprise merger and acquisition implemented by Chinese enterprises in Central Europe, and the first merger and acquisition of European and American aviation manufacturing enterprises by Asian aviation manufacturing industry.

    The acquisition is implemented by Hong Kong future investment Co., Ltd., which is jointly invested by AVIC Xichang and Hong Kong ATL investment fund. It has acquired 91.25% equity of FACC, of which AVIC Xichang accounts for 90% and Hong Kong ATL investment fund accounts for 10%.

    FACC is a professional company engaged in R & D and manufacturing of composite components and systems, with four manufacturing plants, two engineering departments, a service company (Canada) and a customer support center (USA). The company's main products include aviation structural parts and systems and aviation interior products and systems.

    FACC is the first class supplier of Airbus A380; B787 is a secondary supplier of Boeing aircraft. It produces structural and interior parts for Boeing, Airbus, Bombardier, Alenia, eurodirect, water, Saab and COMAC, and engine structural parts for RORO, GE and Pratt Whitney.

    At the beginning of this year, AVIC Xi'an Aircraft Co., Ltd. intervened in the equity transfer of FACC company, contacted with FACC company on equity acquisition, had a comprehensive understanding of the management, finance and production of FACC company, and held talks with major shareholders of FACC company on acquisition. On October 3, AVIC XAC and the major shareholders of FACC signed an equity acquisition agreement in Beijing, which took effect after being approved by relevant government departments.

    According to Meng Xiangkai, President of avic-xi'an aircraft Co., Ltd., after the acquisition, avic-xi'an aircraft Co., Ltd. will form an aviation composite structure R & D and trial production center with FACC as the core and a domestic manufacturing center with China as the core, build a world leading aviation composite material R & D and production platform, and also help to improve the technical level of China's large aircraft projects.