Gen Electric (NYSE:GE)
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3 Anos : February 2009 para February 2012
 General Electric Co. (GE)'s aviation unit and China's state-run Aviation Industry Corp. said Sunday they have signed a framework agreement to form a joint venture company to develop and market avionics systems for commercial aircraft.
The two sides are aiming to launch a new joint-venture company by mid-2010, subject to receiving regulatory approval, they said in a joint statement.
The new company will be headquartered in China and will target the U.S. and global markets, the statement said.
"Our immediate focus is to...compete for the COMAC C919 narrow-body aircraft program," said Lorraine Bolsinger, president and chief executive for GE's aviation systems business.
COMAC, or Commercial Aircraft Corp. of China, already markets the ARJ21, China's first 90-seat regional jet.
No financial details of the deal were given.
-By Patricia Jiayi Ho, Dow Jones Newswires
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