MTU Aero Engines to expand its presence in China; seeks anchor shareholder
MTU Aero Engines signed (27-Nov-2009) an MoU to conduct a joint study with Chinese engine manufacturer, AVIC Commercial Aircraft Engine Co Ltd (ACAE) to explore options of building a domestic aircraft engine industry in China. The study aims to evaluate what structure a local engine company should adopt to be viable and what technologies will be needed for emerging engines to be successful in the Chinese market. ACAE was set up in 2009. Plans are that the company will develop and manufacture engines for future aircraft built by newly established Chinese airframe manufacturer, COMAC. MTU Aero Engines hopes to further solidify and enhance its position in the Chinese engine industry. [more] CEO, Egon Behle, also stated the carrier expects to have an “anchor shareholder” within the next two years (Reuters, 27-Nov-2009). 94% of the company’s stock is publicly traded, with MTU holding the remaining 6%.