Business
Star Navigation Announces Major Agreement With SAMRI, a subsidiary of China Aviation Corporation (AVIC), to supply a jointly branded version of Stars Terrastar: Real Time Monitoring(TM) to the Big Commercial Aircraft Project
TORONTO, Nov. 12 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA) ("Star or the Company"),...
About this update from Star Navigation Systems Group Ltd.
[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 12 /CNW/ - Star Navigation Systems Group Ltd. (TSX-V: SNA)\n("Star or the Company"), a leading edge technology company focused on\nproviding Aerospace Solutions to aviation operators worldwide, is pleased to\nannounce that a detailed Collaborative Framework Agreement ("CFA") has been\nsigned with the Shanghai Aero Measurement-controlling Research Institute\n("SAMRI"), a subsidiary of AVIC - China Aviation Industry Corporation. (Please\nsee press releases October 29 and November 10, 2008).\n\n\nThe CFA outlines the working relationship between SAMRI and Star with the\nobjective of supplying a jointly branded version of Star's TERRASTAR:Real-Time\nMonitoring(TM) system ("TERRASTAR:RTM(TM)") to Chinese Original Equipment\nManufacturers ("OEM") for installation on new and existing commercial\npassenger aircraft in China as part of the Big Commercial Aircraft ("BCA")\nproject, China's entry into the large commercial aircraft field. As noted in\nStar's press release dated October 29, China has already begun making large\ncommercial aircraft and has raised the possibility of competition for Boeing\nand Airbus in the country's booming market for new planes. China is expected\nto be the world's fastest-growing aviation market, and is expected to need\n3,710 aircraft to meet unprecedented demand over the next 20 years. (Source:\nBoeing/AFP Oct. 29/08) The partners are moving ahead to establish joint teams\nto address the following:\n\n\n- Requirements specific to the Chinese aviation industry,\n- Engineering specific to the Chinese-developed aircraft,\n- Production and delivery of technology and components to satisfy\n Chinese aviation industry requirements, and,\n- Installation, training, support and operation of the jointly-branded\n BCA-TERRASTAR:RTM(TM).\n\n\nCOMAC - "Commercial Aircraft Corporation of China, Ltd." (previously\nCACC) has already booked over 208 ARJ21 (100 seat) aircraft orders. Mr. Viraf\nKapadia, CEO of Star stated, "The rapid development of our relationship with\nSAMRI (a subsidiary of AVIC) and COMAC is a good indication that the next\ngeneration of commercial aircraft will be a significant market for our\nproducts. We are looking forward to building upon this relationship to include\nother members of the Chinese aviati...