Europe's aircraft manufacturer Airbus signed two agreements - for the first non-European assembly plant in China as well as the purchase of 150 Airbus A320s for 11 Chinese airlines - with China on Thursday in Beijing. The signing ceremony on Thursday in Beijing's Great Hall of the People with Germany's Minister of Economy, Michael Glos, Fabrice Bregier, chief operating officer of Airbus, as well as Zhang Xiaoqiang, deputy chairman of the National Development and Reform Commission, followed months of detailed negotiations. The company's first final assembly plant outside of Europe is being built in the port city of Tianjin, about 100 kilometres south-east of Beijing, is a joint venture with Airbus holding 51 per cent and the newly formed Tianjin Zhongtian Aviation Industry Investment Co, controlling 49 per cent. Both sides agreed to keep silent about the total investment for the assembly plant, however, estimates put it at 8 to 10 million yuan (1 to 1.3 billion dollars), Xinhua press agency reported.
