Tue, Sep 23, 2008
Eclipse 500s To Be Assembled In 'State-Of-The-Art' Ulyanovsk
Factory
Eclipse Aviation has
confirmed to ANN, that the Russian State Bank Vnesheconombank (VEB)
Supervisory Board, chaired by Russian Prime Minister Vladimir
Putin, has approved the construction of a factory in Ulyanovsk,
Russia to assemble the Eclipse 500. VEB announced that it expects
to finance the project in full, with a total value of $205 million.
VEB and the Ulyanovsk region administration will be among the
shareholders of the enterprise.
"VEB’s decision to support the Eclipse 500 at this level,
illustrates the strength of the global demand for this amazing
jet," said Roel Pieper, Eclipse Aviation CEO. "Obtaining this
approval and financing is an enormous step forward in our efforts
to globalize the Eclipse 500 and create a highly-competitive
worldwide business model for Eclipse Aviation."
Eclipse Aviation has already received approval from the United
States and Canada to export the Eclipse 500 Jet and its components
to Russia. Production in the factory located at the
Ulyanovsk-Vostochny International Airport is expected to begin in
2010.
The factory's ultimate capacity is projected to be 800 jets a
year. The company took pains to stress that production at Eclipse's
headquarters in Albuquerque, NM will continue "in
full" prior to and following the start of the Russian
facility's operations.
Eclipse Aviation has already confirmed
that export of the Eclipse 500 Jet components to Russia complies
with United States and Canadian export regulations.
European Technology and Investment Research Center (ETIRC)
Aviation is the exclusive provider of sales, customer service,
maintenance support and flight training for the Eclipse 500 in the
countries of Western and Eastern Europe, the Russian Federation,
the Commonwealth of Independent States and the Republic of
Turkey.
As ANN reported, in January ETIRC Aviation
made a substantial investment to keep the struggling planemaker
afloat. A key element of that investment granted ETIRC Aviation the
right to establish local assembly of the Eclipse 500 within its
region.
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