UTC Aerospace Systems, an operating unit of
United Technologies Corp.
) and Aviation Industry Corporation of China (AVIC)'s subsidiary
AVIC EM recently launched a joint venture facility in the Xi'an
Hi-tech Industries Development Zone in China.
The joint venture between the two companies, named as the Xi'an
AVIC Hamilton Sundstrand Aviation Electric Co., Ltd., was formed
primarily for the development and manufacture of electric power
systems for Commercial Aviation Corporation of China's (COMAC)
new C919 jetliner. The new facility will also act as a base for
supplying UTC Aerospace Systems' equipment in the international
Covering an area of 6,500 square meters, the new facility is
expected to commence shipments in the third quarter of 2014. AVIC
is a designer and manufacturer of various products for the
aerospace industry. The joint venture is likely to enhance AVIC's
expertise in the aviation electromechanical industry as well as
strengthen United Technologies' presence in China. The joint
venture, therefore, is a win-win situation for both the
Based in Hartford, Conn., United Technologies, the parent company
of UTC Aerospace Systems, provides high-end technology products
and services to the building systems and aerospace industries
worldwide. The company is a diversified business conglomerate
serving various end markets such as aerospace, defense and
commercial construction. The business diversification allows
United Technologies to remain profitable amid challenging
United Technologies currently has a Zacks Rank #3 (Hold).
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) having a Zacks Rank #2 (Buy).
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