SHANGHAI, CHINA--(Marketwire - March 24, 2011) - The Commercial Aircraft Corporation of China Ltd (COMAC) and Bombardier Inc. signed today a framework agreement to establish a long-term strategic cooperation on commercial aircraft. This collaboration will leverage the synergies and strengths of both companies to develop mutually beneficial projects.
This long-term strategic cooperation agreement is based on both COMAC's and Bombardier's desire to build on the potential complementary nature of their products and respective expertise. This includes exploring collaboration in their marketing, customer relationship and customer support strategies to help each other increase overall market share in emerging and mature markets.
Both parties will also evaluate possibilities for cooperation with regards to C919/CSeries aircraft program commonalities, joint procurement as well as collaboration on future Bombardier and COMAC product lines.
"COMAC is pleased to work closely with Bombardier to efficiently identify areas of mutual collaboration and explore future endeavours. Both our companies have specific strengths that, when combined, will enhance the competitiveness of our respective aircraft programs and businesses as a whole," said Mr. Zhang, Chairman of COMAC.
"This agreement represents another important step in the strengthening of our relationship. We believe that this collaboration will generate positive results for both the C919 and CSeries aircraft programs. It also opens the door to further cooperation on any other projects that would be mutually beneficial," stated Pierre Beaudoin, President and Chief Executive Officer of Bombardier Inc.
The collaborative framework agreement was signed by Chairman Zhang and President and Chief Executive Officer Beaudoin in Shanghai.
COMAC, founded in May 2008 and headquartered in Shanghai, is the main organization for implementing the trunk liner program of China. COMAC is a civil aircraft OEM involved in aircraft integration and is mainly engaged in the research, manufacture, testing, and test flight of civil aircraft and related products, as well as sales and services, lease, and operation of civil aircraft. COMAC is committed to becoming a world-class civil aircraft manufacturer and providing customers and passengers with modern civil aircraft with safety, economy, comfort and environmentally friendly characteristics.
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2010, were $19.4 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.
CSeries is a registered trademark of Bombardier Inc. or its subsidiaries.
C919 is a registered trademark of Commercial Aircraft Corporation of China Ltd.
Commercial Aircraft Corporation of China Ltd (COMAC)
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