aimarraul
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Chinas aviation giant buys Austrian plane parts maker FACC
October.06, 2009 - October 3, the stockholders of Austrias leading aviation supplier FACC AG (FACC) and Xian Aircraft Industry (Group) Company Ltd. (XAC) have signed an agreement relating to the acquisition of the majority of shares in FACC by XAC. Upon completion of the acquisition, 91.25% of the shares of FACC AG will be held by XAC, 5% will remain in possession of the Austrian holding company ACC Kooperationen und Beteiligungen GmbH and 3.75% will be retained by Stephan Ges.m.b.H. The transaction which is subject to customary regulatory approvals is expected to be finalized by the end of the fourth quarter of 2009. After the completion of the acquisition, a share capital increase will be carried out, raising shareholders equity from the current 40 million Euros up to no less than 80 million Euros. This primary equity capital raising will assure the planned business development of FACC.
FACC is a leading company specializing in the development, design and manufacture of composite components and systems for civil aircraft. We offer a wide range of products, from aircraft fairings to fuselages and wings, engine and engine nacelle components and complete aircraft cabins. The two divisions Structures and Interiors occupy top positions in their respective markets.
In 2008, The Chinese aircraft manufacturer COMAC/ AVIC Commercial Aircraft Co., Ltd. awards FACC the Silver Medal Supplier Award for the development and manufacture of the ARJ21 passenger cabin.
XAC is the main contractor of famous JH-7/JH-7A two-seater, twin-engine fighter-bomber in service with the Peoples Liberation Army Naval Air Force (PLANAF), and the Peoples Liberation Army Air Force (PLAAF).
October.06, 2009 - October 3, the stockholders of Austrias leading aviation supplier FACC AG (FACC) and Xian Aircraft Industry (Group) Company Ltd. (XAC) have signed an agreement relating to the acquisition of the majority of shares in FACC by XAC. Upon completion of the acquisition, 91.25% of the shares of FACC AG will be held by XAC, 5% will remain in possession of the Austrian holding company ACC Kooperationen und Beteiligungen GmbH and 3.75% will be retained by Stephan Ges.m.b.H. The transaction which is subject to customary regulatory approvals is expected to be finalized by the end of the fourth quarter of 2009. After the completion of the acquisition, a share capital increase will be carried out, raising shareholders equity from the current 40 million Euros up to no less than 80 million Euros. This primary equity capital raising will assure the planned business development of FACC.
FACC is a leading company specializing in the development, design and manufacture of composite components and systems for civil aircraft. We offer a wide range of products, from aircraft fairings to fuselages and wings, engine and engine nacelle components and complete aircraft cabins. The two divisions Structures and Interiors occupy top positions in their respective markets.
In 2008, The Chinese aircraft manufacturer COMAC/ AVIC Commercial Aircraft Co., Ltd. awards FACC the Silver Medal Supplier Award for the development and manufacture of the ARJ21 passenger cabin.
XAC is the main contractor of famous JH-7/JH-7A two-seater, twin-engine fighter-bomber in service with the Peoples Liberation Army Naval Air Force (PLANAF), and the Peoples Liberation Army Air Force (PLAAF).
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