Airbus Inks Deal To Build Helicopters Assembly Line In China

(RTTNews) - French aerospace giant Airbus Group N.V (EADSF.PK, EADSY.PK), will set up a helicopter final assembly line in China as part of a 700 million euro deal to sell 100 H135 helicopters to a Chinese consortium.

The Chinese consortium made up of China Aviation Supplies Holding Company, Qingdao United General Aviation Industrial Development Company and CITIC Offshore Helicopter Co. Ltd has ordered 100 H135 light-twin helicopters.

Airbus will build the H135 final assembly line in Qingdao, Shandong province. The assembly line will start operations by 2018 and will complete the 100 H135s over the next 10 years.

The deal was signed in the presence of Chinese Premier Li Keqiang and the visiting German Chancellor Angela Merkel.

"We are extremely pleased with the progress of this partnership between Airbus Helicopters and our Chinese partners. With the further opening up of the Chinese skies and the increasing growth in the civil and parapublic segments, China is gearing up to be the biggest market for helicopters in years to come," said Norbert Ducrot, Head of Airbus Helicopters China and North Asia region.