Eaton Corporation and Shanghai Aircraft Manufacturing Co., Ltd. Form Conveyance Joint Venture
Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) and Shanghai Aircraft Manufacturing Co., Ltd. (SAMC), a subsidiary of Commercial Aircraft Corporation of China (COMAC), announced that they have established a joint venture in Shanghai to support the COMAC C919 single-aisle commercial aircraft program.
- (1888PressRelease) September 20, 2011 - Of the joint ventures being formed to support the C919 program, the Eaton-SAMC joint venture is the first for the COMAC enterprise with a foreign company, as well as the first to receive a business license. The joint venture will focus on the design, development, manufacturing and support of fuel and hydraulic conveyance systems.
"Eaton is proud to be the first foreign supplier that officially establishes a joint venture with our Chinese partner to support the C919 aircraft platform," said Brad Morton, president of Eaton's Aerospace Group. "We look forward to working with SAMC to develop the comprehensive conveyance system engineering and manufacturing capabilities for the global civil aviation market. We will utilize the best civil aviation technology, manufacturing capabilities, and management practices to create a globally competitive company. "
This announcement follows a joint venture agreement signed by the two companies in July 2010. SAMC owns a 51 percent interest in the new joint venture, and Eaton owns a 49 percent interest.
The primary focus of the joint venture is to support COMAC's C919 design, development and manufacturing capacity. Future plans include supplying conveyance systems to other aircraft and engine manufacturers in China and the rest of the world. Total program value for C919 conveyance systems, including aftermarket opportunities, is estimated at $1.8 billion, based on an anticipated volume of 2,500 aircraft. COMAC is the recently created indigenous Chinese commercial aircraft company. The C919 program, with first flight planned for 2014 and certification planned for 2016, represents a significant area of rapid development and growth for the Chinese aerospace industry. As the assembly and manufacturing center of COMAC, Shanghai Aircraft Manufacturing Co. Ltd. (SAMC) is mainly engaged in the manufacturing, final assembly, parts assembly, delivery, maintenance of the commercial aircraft parts, pilot flight and other services.
Eaton began operations in China in 1993 through a joint venture in Jining, Shandong Province. Since then, its presence has grown significantly in the region through acquisitions, joint ventures and wholly owned subsidiaries. In China today, Eaton has 27 operations and four R&D centers with approximately 10,000 employees. In the aerospace industry, Eaton is a leading supplier of hydraulic, electro-hydraulic pump and generator products and integrated systems; engine and airframe fuel pumps; electric motors; aircraft door actuation, flight and flow controls; fluid, fuel and air delivery products and systems; nose wheel steering systems; integrated control systems; cockpit controls and displays; power and load management systems; pressure sensors, seals, and fluid health monitoring products and systems. Eaton serves commercial and military aviation, aerospace, military weapons, marine and off-road markets worldwide.
Eaton Corporation is a diversified power management company with 2010 sales of $13.7 billion. Celebrating its 100th anniversary in 2011, Eaton is a global technology leader in electrical components and systems for power quality, distribution and control; hydraulics components, systems and services for industrial and mobile equipment; aerospace fuel, hydraulics and pneumatic systems for commercial and military use; and truck and automotive drivetrain and powertrain systems for performance, fuel economy and safety. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries.
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