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Private Chinese Company to Build Helicopters Jointly with European Partner

Sino-European International Group, a privately owned Chinese company based in Wenzhou, China, recently signed a contract to build luxury helicopters in China jointly with Eurocopter. All parts will be imported from Europe, while assembly will be done inside China. The plan for the future is that all parts will be produced in China. An initial investment of half a billion RMB was spent to establish a factory in Changshu. Official release of helicopters for sale is scheduled for next June. The price for each helicopter is planned be in the range of RMB 30 million to 60 million. Eurocopter is the largest helicopter vendor in the world. It belongs to EADS (European Aeronautic Defence and Space Company N.V.)

Source: Xinhua, February 11, 2011