China Setting Up Aircraft Engine Conglomerate to Strengthen Market Position
10:28 03.03.2016(updated 10:34 03.03.2016)
China is setting up a conglomerate that will merge three aircraft engine manufacturers, local media reported Thursday.
BEIJING (Sputnik) – According to the Xinhua news agency, the conglomerate will include Sichuan Chengfa Aero Science & Technology Co., Avic Aviation Engine Corp. and Avic Aero-Engine Controls Co.
Authorities have already appointed the conglomerate management, however, their names have not been disclosed.
According to the media, the merger of the three already major players is expected to strengthen position of China – one of the world's biggest aviation markets – in the sphere of aircraft development and production.
© Sputnik
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