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AVIC to list most of businesses in three years

By Lu Haoting (chinadaily.com.cn)
Updated: 2009-01-20 13:53

Aviation Industry Corp of China (AVIC), the country's leading aviation manufacturer, said that 80 percent of its diversified businesses controlled through numerous units will be listed in three years.

The company has more than 200 subsidiaries around the country. It was launched in November 2008 after a merger between China's two leading State-owned aviation manufacturers, AVIC I and AVIC II. The company acts as a parent company, under which there are six firms respectively specializing in transporters, airplane engines, helicopters, general aviation, airborne systems and aviation imports and exports. More than 20 subsidiaries are already listed.

AVIC will list its helicopter business in 2010, Wang Bin, president of AVIC Helicopter Co Ltd, was quoted as saying by China Business News.

Its general aviation business will be listed in three years, the newspaper reported.

(For more biz stories, please visit Industries)