Beijing, China - November 27, 2007 - Cessna Aircraft Company,
a Textron Inc. (NYSE: TXT) company, will partner with Shenyang
Aircraft Corporation (SAC) to manufacture the new Model 162 SkyCatcher
light sport aircraft (LSA). SAC is a subsidiary of China Aviation
Industry Corporation I (AVIC I), which is a government-owned
consortium of aircraft manufacturers.
The company made the announcement today during a signing ceremony
at the Great Hall of the People in Beijing.
"The LSA market demands the latest avionics, safety and
reliability, light-weight equipment and a competitive price tag," said
Cessna Chairman, President and CEO Jack J. Pelton. "Our solution is to
partner with SAC, a company with excellent facilities,
state-of-the-art technologies and a workforce highly experienced in
aircraft manufacturing. SkyCatcher customers will get an advanced
design, high-quality workmanship and world-class product support, all
at an affordable price from Cessna, a brand known and trusted
worldwide."
Cessna will design the aircraft and handle American Society for
Testing and Materials (ASTM) compliance work, as well as provide
on-site personnel to oversee manufacturing, quality assurance and
technical design. SAC will be responsible for assembling the
SkyCatcher.
"SAC greatly values the cooperation with Cessna, and sees Cessna
as a significant partner in the general aviation segment. Since the
start of the cooperation between the two companies that began in 2003,
a good foundation has been established," said Chairman and President,
Mr. Luo Yang of SAC. "The communications and exchange of visits
between the management of our two companies have strengthened the
trust and understanding, which leads to today's signing of the Model
162 contract, making SAC the sole source supplier of this great
airplane."
President, Mr. Lin Zouming of AVIC I added, "With the continual
economic growth in China and the changes in China's policies for the
general aviation industry, AVIC I has placed strategic importance on
general aviation development and will strongly support and promote the
business."
Founded in 1951, SAC is a civilian and military aircraft
manufacturer with 16,000 employees in Shenyang, China. Boeing, Airbus,
Bombardier, Spirit AeroSystems and Singapore Aerospace are just a few
of SAC's clients.
"Through decades of joint production ventures and sub-assembly
ventures with the industry's top manufacturers, SAC has emerged as the
premier aircraft enterprise in China," Pelton said. "That experience
and their outstanding facilities and production capabilities make them
the perfect partner for us on the SkyCatcher program."
Cessna unveiled a proof-of-concept aircraft in July 2006 to gauge
market response, then announced in July 2007 that it would proceed
with development of a light sport aircraft, dubbed the Cessna 162
SkyCatcher. An introductory price of $109,500 USD will hold for the
first 1,000 orders and then increase to $111,500 USD. Orders have
already approached 900.
The SkyCatcher features an exclusive Garmin glass cockpit - the
G300 - and a Teledyne Continental O-200D 100-horsepower engine
designed specifically for the LSA. The aircraft will cruise at speeds
up to 118 knots and will have a maximum range of 470 nautical miles.
It will be capable of Visual Flight Rules/Day/Night operations.
The aircraft has a maximum gross weight of 1,320 pounds, a service
ceiling of 15,500 feet, a useful load of 490 pounds and a usable fuel
load of 24 gallons. Its cabin width at shoulder height is 44.25
inches, and two cabin entry doors and forward pivoting seats give
access to a 12.5 cubic-foot baggage compartment. The SkyCatcher has
tricycle landing gear with a castering nose wheel and standard dual
toe-actuated disc brakes.
The aluminum aircraft will meet ASTM standard F2245 for light
sport aircraft. First flight of the prototype SkyCatcher is set for
the first half of 2008 and deliveries are expected to begin in the
second half of 2009. Cessna expects to produce up to 700 a year at
full-rate production.
About Cessna Aircraft Company
Based on unit sales, Cessna Aircraft Company is the world's
largest manufacturer of general aviation airplanes. In 2006, Cessna
delivered 1,239 aircraft, including 307 Citation business jets, and
reported revenues of about $4.2 billion. Cessna has a current backlog
of $11.9 billion. Since the company was originally established in
1927, some 190,000 Cessna airplanes have been delivered to nearly
every country in the world. The global fleet of more than 5,000
Citations is the largest fleet of business jets in the world. More
information about Cessna Aircraft Company is available at
http://www.cessna.com.
About Textron Inc.
Textron Inc. is an $11 billion multi-industry company operating in
32 countries with approximately 40,000 employees. The company
leverages its global network of aircraft, industrial and finance
businesses to provide customers with innovative solutions and
services. Textron is known around the world for its powerful brands
such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex,
Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron
Financial Corporation. More information is available at
http://www.textron.com.
Forward-looking Information: Certain statements in this release
are forward-looking statements and speak only as of the date on which
they are made, and we undertake no obligation to update or revise any
forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to
differ materially from those contained in the statements, including
but not limited to the following: (a) changes in worldwide economic
and political conditions that impact demand for our products, (b) the
interruption of production at Textron facilities or Textron's
customers or suppliers; (c) slowdowns or downturns in customer markets
in which Textron products are sold or supplied; (d) changes in
aircraft delivery schedules or cancellation of orders; and (e) changes
in national or international government policies on the export and
import of commercial products.
