BAKU, Azerbaijan, October 7
By Tamilla Mammadova – Trend:
Some 12.2 million lari ($3.7 million) of turnover in 2019 and 170 workers employed – such are the numbers for JSC Aero structure Technologies Cyclone (ATC), a joint venture company founded by Georgia’s Partnership Fund and Israeli technological company Elbit Systems, Trend reports the Ministry of Finance of Georgia.
The new enterprise - an analog of the Elbit Systems factory (located in Israel, the city of Haifa) was opened in 2018 in Tbilisi to produce products under the ELBIT SYSTEMS-CYCLONE brand. It was then said that the ELBIT would launch the production of the different replacement parts for the civil aircraft, including aircraft doors, aerodynamic surfaces, and control-panels and these parts would be designed by such leading companies as Boeing, Airbus, Bombardier, and others.
The company would employ 300 local workers trained by the leading specialists in the aviation market, and 100 percent of the products would be export-oriented.
At the beginning of 2019, the company gained the status of the certified supplier of licensed parts of the Boeing.
As per initial planning, upon reaching the full-scale capacity (the 7th year), the annual sales of the enterprise should increase up to $60 million and more.
The total investment volume of the project equals $93 million.
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