Business
Star Navigation announces MOU with Chinese government manufacturer and plans to attend Zhuhai airshow in China November 2008
TORONTO, Oct. 29 /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, Oct. 29 /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 it is in discussions with an undisclosed state owned avionics\ncorporation in China with respect to forming a strategic relationship. A\nMemorandum of Understanding ("MOU") has been signed and the terms and\nconditions of a detailed Collaborative Framework Agreement ("CFA") have been\nagreed upon by the parties.\n\n\nStar personnel are presently traveling to China to sign the CFA at the\nZhuhai Airshow in Guangdong, China. It will then be used as the basis for\nsupplying Star's TERRASTAR:Real-Time Monitoring system to Chinese Original\nEquipment Manufacturers ("OEM") for installation on new commercial passenger\naircraft manufactured by the biggest commercial aircraft manufacturers in\nChina as the parties will work together with the intent to enter into a final\npartnership agreement/contract. 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.\n\n\nThis joint collaborative venture is going to assist in bridging the gap\nof digital divide in China and should provide the Real-Time Monitoring and\ndata analysis capabilities needed to satisfy the demands of the aviation\nindustry in China.\n\n\nMr. Viraf Kapadia, CEO of Star stated: "After several months of effort,\nwe are very excited at this opportunity. China is a strategic region for us\nand we will continue to pursue it ambitiously. This Chinese initiative\ncompliments our other ongoing efforts in the region."\n\n\nStar will be attending the China International Aviation & Aerospace\nExhibition (Airshow China) which will take place November 4th - 9th in Zhuhai,\nGuangdong Province, in southern China. Members of Star's engineering team will\nbe arriving in China this week to continue with the technical integration\ndiscussions. Airshow China is the only international aerospace trade show in\nChina that is endorsed by the Chinese central government. It features the\ndisplay of real-size products, trade talks, technological exchange and flying\ndisplay. ...