Israel Aerospace Industries (IAI) has formed a Joint Venture to cooperate with Lingyun (Yichang) Science and Technology Group Co., Ltd., to establish its first local Chinese maintenance, repair and overhaul (MRO) enterprise in the Hubei Province.
This joint venture will be dedicated to expanding civil maintenance services and cargo conversion, as well as laying the groundwork for additional business.
IAI is a world leader in the provision of maintenance services for aircraft, engines and components, including heavy maintenance, modifications, upgrades, conversions and development programs.
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With IAI’s tremendous and extensive experience as a center of excellence in the MRO arena, the company will work hand-in-hand with Lingyun (Yichang).
Cooperation between the two companies has received strong support from the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), as well as from local municipal and provincial governments.
The agreements were signed in the presence of Mr. Yosi Melamed, VP of IAI’s Bedek Aviation Group, and Mr. Sun Jian, the Chairman of Lingyun. The Chinese guests included, among others, Yichang municipal government and CAAC leaders as well as representatives of many airline companies.
Mr. Qi Longuang, the General Manager of Lingyun, hosted the JV contract signing ceremony.
Yosi Melamed, VP of IAI’s Bedek Aviation Group, said: “This is IAI’s first MRO JV in China and is part of IAI’s strategy to extend our business into the growing Chinese civil aviation sector. This agreement will lead to substantial cooperation between our two companies to the mutual benefit of both parties.”
Mr. Sun Jian, the Board Chairman of Lingyun said: “The establishment of the JV demonstrates the concepts of complementary advantages and win-win cooperation. We will cherish this opportunity to cooperate, and will make full use of resources from both sides, to make our JV business prosperous and shape the JV into a top class company in China and thereby elevate the aviation maintenance service of JV to a leading international level.”
