SOUTH INDIA ECONOMIC ZONE BOOST FOR OFFSETS
India's first special economic zone catering exclusively for the aerospace sector has opened at Belgaum in the southern state of Karnataka. Bangalore-based aerospace and engineering firm Quest Global, which is backing the venture, says the zone will help its partners fulfil offset obligations. Quest recently signed deals with SABCA, of Belgium, to make metal parts and assemblies for Airbus A350XWB flap tracks and with Magellan Aerospace to make aeroengine components and subassemblies.
GE-AVIC JOINT VENTURE EYES C919 DEAL
GE Aviation and China Aviation Industry (AVIC) will by mid-2010 launch, subject to regulatory approval, a 50-50 joint venture to develop avionics systems for commercial aircraft operators. The joint venture will start by bidding to develop an open-architecture integrated modular avionics platform for the Comac C919 narrowbody airliner. GE's China Technology Centre in Shanghai will house a commercial aviation centre, and 200 jobs will be added in the USA.
RUSSIA TO TIGHTEN AIRLINE FINANCE REQUIREMENTS
Russia is planning stricter financial solvency requirements for airlines in the wake of last year's allocation of Rb30 billion ($1 billion) to prop up airlines hit by high fuel prices and AirUnion's collapse. Carriers may be asked to fund a contingency account in proportion to business volume and passenger traffic.
INTERNATIONAL PUSH BOOSTS ELBIT SYSTEMS
Increased sales in new markets and through companies recently acquired helped Israeli defence electronics maker Elbit Systems boost third quarter net income 64% to $58.3 million on revenue up 9% to $732.5 million. Some two-thirds of Elbit's 30 September backlog of $5.01 billion is for orders from outside Israel.
ASTROTECH PROFITS GO INTO ORBIT
Spacecraft preparer Astrotech's pre-tax profits for its first quarter to 30 September soared 14-fold to $825,000 on a 30% rise in revenue, to $7.76 million, as it supported two launches, for NASA and the US government.
IAI EXPANDS IN USA
Israel Aerospace Industries' North American Stark Aerospace unit has opened a new8,000m² (86,115ft2) facility at Golden Triangle regional airport in Columbus, Mississippi. A 1,900m² extension is under construction. Stark's unmanned systems unitproduces the Hunter MQ-5B for the US Army.
AIRBUS FORMS SPARE PARTS VENTURE IN INDIA
Airbus has formed a joint venture with Indian warehousing services provider Airspace Infrastructure and Turkish components trading firm Airlogic to provide spare parts, engineering and logistics for operators of Airbus and other commercial aircraft in India. Airbus will own 26% of Spares Support Solutions India, with the other two partners holding 37% each.
GOODRICH SCOOPS UP ATLANTIC INERTIAL
Goodrich is to acquire military guidance, stabilisation and navigation products and systems maker Atlantic Inertial Systems for $375 million. AIS employs about 800 people in the USA and UK and will make 2009 sales of $180 million. The transaction is expected to be completed by the end of 2009.
Source: Flight International
