CHANGZHOU, China, Nov. 5, 2015 /PRNewswire/ -- Poland-based Aero AT Ltd., Jiangsu Aero AT Aviation Technologies and Changzhou National Hi-Tech District entered into an investment agreement on October 30, 2015 whereby the aircraft manufacturer will build a facility for producing the six-seat M-20 Mewa business jet in Changzhou Konggang Industrial Park. The manufacturing facility encompasses a total investment of US$150 million, including an initial registered capital of US$60 million.
In May 2013, Aero AT (Jiangsu) Aviation Industrial acquired Poland's Aero AT Ltd. outright, becoming China's first private general aviation firm to own a foreign fully-assembled aircraft maker wholly. In April of this year, Aero AT (Jiangsu) Aviation Industrial bought the entire collection of intellectual property for the M-20 Mewa business jet from U.S.-based Sikorsky Aircraft's subsidiary in Poland.
After several trips, Aero AT (Jiangsu) finally decided to set up its fully-assembled general aircraft manufacturing facility, especially outfitted to produce the M-20, in Changzhou Konggang Industrial Park. The M-20 Mewa is a twin-engine, six-seat, light-duty business jet constructed using advanced metal digital processing technology. In addition to the approval received in 1982 for operation in Europe, the aircraft has received air worthiness certificates from the European Aviation Safety Agency (EASA), the Federal Aviation Administration (FAA) and Airservices Australia. The M-20 Mewa is widely used for private business travel, air rescue, short-distance cargo hauling and mail transport as well as twin-engine instrument flight training and specialized military flights. The first M-20 Mewa is expected to roll off the production line at the facility in 2017, followed by 50 aircraft annually starting in 2018.
Changzhou Mayor Fei Gaoyun said at the signing ceremony, "Changzhou is an important modern manufacturing and logistics hub in China's Yangtze River Delta area. Changzhou National Hi-Tech District, which houses Changzhou International Airport, a national top-ranked open port, is primarily engaged in the manufacturing of fully-assembled aircraft, aircraft upgrading and maintenance as well as logistics and general aviation operations. The city of Changzhou will assist Aero AT in developing the new facility into a key general aviation manufacturing hub in the Yangtze River Delta area and the wider east China."
SOURCE The Public Promotion Department of Changzhou Xinbei District Commission of CCP