AVIC1 Commercial Aircraft Co., Ltd. (ACAC)
AVIC1 Commercial Aircraft Co., Ltd. (ACAC) was founded in September 2002, and it was the only Chinese aircraft company that aimed at developing civil aircraft. ACAC is jointly invested by 15 investors from aviation industrial institutes and enterprises including China Aviation Industry Corporation 1 (AVIC1) on the principle of Joint Investment, Risk and Profit Share. The headquarters of ACAC is located in Shanghai.
ACAC serves as the responsible legal and operational entity of the ARJ21 project, and it is also the ARJ21 type certificate and production license holder. ACAC takes charge of marketing research and sales, customer service and complete production realization process of ARJ21 aircraft. ARJ21 is the first medium and short range regional jet designed by Chinese with completely independent intellectual property rights.
In the process of developing ARJ21, ACAC mainly bases on China's existing research and development resources and capabilities while maintaining intellectual property rights. The project adopts new operation and management mechanism. It is financed through various channels. This project is driven by market demands and serves principally for China's domestic market as well as develops international market.
ACAC is gradually to set up and develop the systems in the areas of marketing and sales, advanced production research and development; and perfect the production support and customer service system for civil aircraft industry as well. By promoting the enterprise to develop steadily and healthily, ACAC has committed itself to be the world class civil aircraft manufacturer.
In October 2008, the central government merged China's two large aerospace entities, AVIC I and AVIC II, creating one business unit with ten aerospace subsidiary companies. The new company, which took the name AVIC, was formed from various pieces of the former AVIC family. AVIC is a partial shareholder of Commercial Aircraft Corporation of China (COMAC), which took over the work of ACAC.
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