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In a letter sent to Hawker Beechcraft outlining Superior's proposal to acquire the Kansas plane-maker, Cheng touted his company's experience in the United States. "Superior has acquired an aviation business in the U.S. in 2009 out of bankruptcy and has turned the target into a profitable business within less than two ... years under the ownership of Superior, so the management of Superior is very familiar with the bankruptcy acquisition process and acquiring and managing an aviation business in the U.S.," Cheng wrote. Hawker Beechcraft employs about 7,400 people, with roughly 4,700 working at its Wichita, Kan., facility. It also has factories in Little Rock, Ark., the U.K. and Mexico, as well as more than 100 service centers worldwide. Analysts say it is unlikely Superior would move Hawker Beechcraft's entire aircraft production lines to China because doing so would mean the loss of its FAA production certificate, although some work could be farmed out. In his letter to Hawker Beechcraft, Cheng wrote that Superior had no plans to relocate or terminate any manufacturing facilities or product lines. But Cheng also noted that Superior has worked closely with the Beijing municipal government to build a strong aviation industry in Beijing. The remaining 40 percent ownership interest in Superior is held by Beijing E-Town International Investment & Development Corp. Ltd., an investment company controlled by the Beijing municipal government. E-Town owns stakes in 23 foreign investment projects with total assets of $1 billion, according to information publicized by the company in advertising for job applicants. E-Town was set up in 2009 by the Beijing city government's Economic and Technology Development Committee. It is intended to support development in the Yizhuang district on the southern edge of the Chinese capital.
[Associated
Press;
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