NANJING, Oct. 28 (Xinhua) -- NEIAS Parker Aero Systems and Equipment Co., Ltd., a joint venture (JV) established by AVIC Jincheng Nanjing Electrical and Hydraulic Engineering Research Center and Parker Hannifin Corporation has moved its factory to Jiangning Development Zone in Nanjing.
The joint venture, with 43.5 million dollars of total investment and 28 million dollars of registered capital, is held by the two sides evenly. It coverers an area of 25 hectares and its annual output is expected to reach 210 million yuan by 2020 and 650 million yuan when it's in full production.
Parker Hannifin Corporation is a world's leader in aerospace system and components supplier. It boasts over 40 factories in the United States, Europe and Asia. It started cooperation with Jincheng Nanjing Electrical and Hydraulic Engineering Research Center from 1998.
In 2013, Parker Hannifin Corporation and its Chinese partner established two joint ventures to provide equipments for the aircraft model C919, and NEIAS Parker Aero Systems and Equipment Co., Ltd is specialized in hydraulic and fuel supply equipments. (Edited by Yang Qi, kateqiyang@xinhua.org)
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