Thu, Jul 21, 2011
Brazilian Planemaker Continues Success In China
Embraer and Minsheng Financial Leasing, a subsidiary of China
Minsheng Banking Co, signed a Memorandum of Understanding (MoU) in
a ceremony held Tuesday at Embraer's headquarters in Sao Jose dos
Campos, Sao Paulo, Brazil. According to the MoU, Minsheng Financial
Leasing intends to purchase up to 20 of Embraer's full line of
executive jets. They are expected to be fully converted into firm
orders in the next five years and deliveries may commence in
2011.
"China's business aviation market, as one of the greatest
potential markets in the world, continuing to signify the
importance of business aviation in a global economy. We are glad to
be selected as the partner of Minsheng Financial Leasing to jointly
promote the development of China's executive aviation market. Both
parties have full confidence that Embraer's full line of
state-of-the-art executive products will surely satisfy China's
market demands, to which the deal itself eloquently witnesses,"
said Ernest Edwards, President, Embraer Executive Jets.
"This MoU laid a solid foundation for Minsheng Financial Leasing
to be the top executive aviation leasing institution in Asia, and
for Embraer to strengthen its penetration of China's executive
aviation market. Our company will continuously expand its executive
jets fleet and Embraer will surely be our important partner. We
look forward to a long-term partnership with Embraer to jointly
promote the robust development of China's executive aviation market
by taking advantage of each party's strengths," said Kong Linshan,
Chairman Minsheng Financial Leasing.
With this MoU, Embraer says it further consolidates its presence
in China's business aviation market, following the Company's
announcement in April 2011 to cooperate with AVIC (Aviation
Industry Corporation of China) to assemble business jets in
China.
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