Pacific Aerospace Resources and Technologies signed a joint venture agreement with a state owned company, Yinchuan Free Trade Zone Universal Airline Industry Investment and Development in Yinchuan, China.
The aerospace industrial base will be built in three phases with an estimated total investment of $1.5 billion dollars. It will have aircraft repair and maintenance, leasing, manufacture, component trading and repair, engineering and certification as well as a training academy and a FBO. The first phase’s focus will be on the aviation park, component trading platform and engineering.
“Our goal for the aviation park is to create a gateway for western aviation companies to enter the Chinese market. Using the ‘Built to Suite’ approach, we will not only build the facilities each company needs, but assist in negotiations with the government, obtaining business permits and providing all the back office support including legal, finance, and human resources. We believe our services will save tremendous time and resources for Western Companies to enter the Chinese market; hence reduce their risk,” says, PART chairman of the Board, David Green.
Pacific Aerospace Resources and Technologies (known as PART), an ARC Aerospace Industries company, provides Aircraft Maintenance, Repair, and Overhaul services, aircraft modification, long term storage, disassembly, part distribution and aircraft recycling service in Victorville, California. Additional in-house capabilities include a composite and accessory shop, and level 3 NDT.