MONTREAL, QUEBEC--(Marketwired - Nov. 22, 2013) - Bombardier Aerospace and the Tianjin Airport Economic Area announced today that they have signed a letter of agreement to increase aircraft maintenance services in Mainland China. The agreement is a first step toward the creation of a joint venture, which is intended to result in the construction of a maintenance facility in 2016.
Located in Tianjin, China, the facility will support the maintenance, repair, overhaul, and associated activities and services for all Bombardier business aircraft and, subject to certain conditions, on Bombardier commercial aircraft. Under the joint venture, the facility will be operated using similar processes and procedures that govern Bombardier's wholly owned Service Centre network worldwide.
"China is an important market and we are excited and honoured to collaborate with the leaders of Tianjin," said Eric Martel, President, Customer Services and Specialized and Amphibious Aircraft, Bombardier Aerospace. "We are eager to have the opportunity to show customers our strong commitment to bringing OEM-backed services to their doorstep. Tianjin Airport Economic Area's experience and strong leadership reinforce the fact that this is the right partnership that will lead to an amazing customer experience."
"We are glad that our discussions with Bombardier Aerospace have led to this agreement and we are confident that the joint venture will be beneficial for our region," said Huang Xingguo, Mayor of Tianjin. "Tianjin is a major and growing aerospace hub and fosters a business environment that will lead to the long term success of the joint venture."
Bombardier Aerospace and the Tianjin Airport Economic Area are working toward definitive agreements to be signed in 2014, subject to obtaining the required internal, governmental and third-party approvals, as well as other usual conditions.
Bombardier is committed to putting its customers first by offering the highest level of support as close as possible to their operational bases. As part of its commitment to operators in China, Bombardier operates a localized customer service network, including a team of Field Service Representatives and Customer Support Account Managers, four Authorized Service Facilities, Regional Support Offices in Shanghai, Hong Kong and neighbouring Singapore, as well as two established parts depots in Beijing and Hong Kong. In addition, Bombardier continues to explore opportunities to increase its customer support presence in strategic locations.
The fast-growing Bombardier fleet of Learjet, Challenger and Global jets occupies a one-third share of the business jet market in Greater China. Bombardier's latest market forecast for the aviation industry predicts a total of 2,420 business jet deliveries destined for China over the next 20 years. To date, Bombardier business aircraft based in the Greater China region have reached over 100 jets.
In the 2013-2032 market forecast for commercial aircraft, Bombardier predicts that operators in Greater China will take delivery of 2,330 aircraft in the 20- to 149-seat commercial aircraft segment, making it the second most important region following the United States. More than 40 of Bombardier's commercial aircraft are currently in operation in Greater China.
About Tianjin Airport Economic Area
Tianjin Airport Economic Area (TAEA) is an economic development zone of Tianjin Binhai New Area (TBNA) within the jurisdiction of Tianjin municipality. The TBNA is highlighted by China central government as a new growth pole in China in the new century after Shengzhen Special Economic Area and Shanghai Pudong New Area. Tianjin, with a population of 14 million, is bordered by Beijing only 120 kilometres (75 mi) to the northwest. Tianjin boasts a leading economic centre and largest sea port in northern China.
TAEA, with its comprehensive advantages and its vision of building up Tianjin's reputation as a first-class cluster for aviation and aerospace industry, has attracted a significant number of global aviation companies, investing and establishing a strong foothold in Tianjin. There are 142 projects funded by the World's Top 500 Enterprises in TAEA and its subzone -Tianjin Port Free Trade Zone.
About Bombardier
Bombardier is the world's only manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montreal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability World and North America Indexes. In the fiscal year ended December 31, 2012, we posted revenues of $16.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.
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