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Saturday, October 8, 2005
Airbus offers Russia a 3% stake in A350
Airbus offered Russia's aerospace industry as much as a 3 percent stake in its new A350 airliner.
United Aircraft Construction Co., a new company combining Russia's existing aerospace businesses, is interested in the stake, Airbus Chief Executive Gustav Humbert said at a conference in Paris Friday. "We have given an offer of work-share of roughly 3 percent to United Aircraft Co., and they're preparing the bid," he said.
Airbus has an engineering center in Moscow that will help design parts for the plane, Humbert said. Airbus said in December that it offered a 5 percent stake in the A350 to Chinese companies.
Russia is planning to set up an aircraft company by the end of 2006 that will combine OAO Irkut Corp., a maker of Sukhoi fighter planes; OKB Sukhoi; MiG Corp.; OAO Ilyushin; OAO Tupolev; and engineering units and factories.
In February, Valery Bezverkhniy, Irkut's acting president, said the plan is to create a $3 billion company that will win export sales to India, Southeast Asia and China. He has been appointed general manager of the project. The working title of the new company is United Aircraft Construction Co.
Airbus and The Boeing Co. increasingly are seeking to tap into the engineering talent and lower labor costs in Russia.
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