Zhuhai, China, Nov. 22, 2011 – Interfast Inc, a leadingToronto-based global aerospace and industrial fastener distributor, and China’s AVIC International Zhuhai Company Limited cut the ribbon on a new joint venture aerospace fastener facility in Guangdong Province. The office and warehouse are located in a CAE facility in the free trade zone in Zhuhai until a new, larger facility is built.
The joint venture company, Interfast-AVIC Aerospace Co., Ltd. will supply specialized aerospace fasteners and hardware and offer a series of services, such as engineering support, to service domestic and international aerospace firms operating in Asia and is expected to be operational within the next two months.
“This is an important milestone for both of our companies as it further opens Asian markets for Interfast and we can better assist the Chinese in becoming certified with Western aerospace firms,” says Doug Woollings, CEO, Interfast Inc. “Interfast is a leader in the supply of specialized aerospace fasteners and brings customized supply chain logistics and management programs that minimize costs and maximize competitiveness. We’re very pleased to partner with AVIC International Zhuhai Co. on this significant initiative to create a premier fastener integrator for the Asian aerospace market.”
AVIC International Zhuhai Co. is an influential, state-owned enterprise, whose parent company (AVIC) has been in charge of China's aerospace programs related to high-quality aerospace research & development and manufacturing and has become increasingly recognized by the global aerospace industries.
Interfast Inc. owns 51 per cent of the joint venture company. The Chinese aerospace market is growing rapidly with strong participation by both global aerospace manufacturers as well as an increasingly robust indigenous aerospace industry with its own aircraft programs.
Interfast has worked with AVIC since 1995 and has a long history of servicing customers in China and in other Asian countries, working both with global aircraft manufacturers as well as Chinese aircraft manufacturers.
About Interfast Inc.
Interfast (http://www.interfast.ca/ ), headquartered in Toronto, Ontario, Canada, is a value-added distributor of specialty fasteners, fastening systems, and production installation tooling for the aerospace, automotive, electronics and general industrial markets. Interfast serves the global market through a network of strategic business partnerships, combining its extensive business and product knowledge with local representatives. The company works with the aerospace OEMs and their suppliers, airlines and the MRO sectors to deliver proactive and innovative fastener-based solutions for a broad base of applications from key aerospace fastener manufacturers. Interfast also has a strong presence in the industrial market with recognized branded products.
The joint venture company will be located in Zhuhai City in Guangdong Province in China.
Interfast purchased certain assets of UK-based Burwood Fastener Products Ltd. and has launched a new European division.
The acquisition provides Interfast with a firm base of operations in Europe and will operate under the name Interfast Europe Ltd.
The construction of facilities is complete and tooling and equipment is expected to be in place in Shijiazhuang by June and in Zhuhai before the end of the year.