Poland-based Aero AT Ltd., Jiangsu Aero AT Aviation Technologies and Changzhou National Hi-Tech District said they have entered into an investment agreement whereby the aircraft manufacturer will build a facility for producing the six-seat M-20 Mewa business jet in Changzhou Konggang Industrial Park.
The manufacturing facility encompasses a total investment of USD150 million, including an initial registered capital of USD60 million.
In May 2013, Aero AT (Jiangsu) Aviation Industrial acquired Poland´s Aero AT Ltd. outright, becoming China´s first private general aviation firm to own a foreign fully-assembled aircraft maker wholly. In April of this year, Aero AT (Jiangsu) Aviation Industrial bought the entire collection of intellectual property for the M-20 Mewa business jet from US-based Sikorsky Aircraft´s subsidiary in Poland.
The city of Changzhou will assist Aero AT in developing the new facility into a key general aviation manufacturing hub in the Yangtze River Delta area and the wider east China.