Aerospace Industrial Development Corp (AIDC, 漢翔航空) shares yesterday soared 10 percent, the maximum daily increase allowed on the Taiwan Stock Exchange, after the company on Tuesday announced that it had secured orders of more than NT$35 billion (US$1.15 billion) to provide engine components to GE Aerospace Inc.
The 10-year contract with US-based GE Aerospace was the Taiwanese company’s first long-term order after the recovery of air transportation in the wake of the COVID-19 pandemic, AIDC said in a statement.
AIDC, a maker of military and civil aviation products, would manufacture central structural components for GE Aerospace’s LEAP turbine engines, the company said.
Photo courtesy of Aerospace Industrial Development Corp via CNA
LEAP engines power Airbus SE’s A320neo and Boeing Co’s 737 MAX aircrafts.
AIDC in 2018 signed contracts with GE Aerospace to manufacture 17 LEAP engine components.
The new contract is to take effect in 2026 and run until 2035, the company said, adding that it expects the deal to help generate steady, significant revenue.
Prices under the contract are adjustable to take into account inflation and the results of follow-up negotiations, it said.
AIDC said the aerospace industry’s outlook is rosy, adding that the GE deal would ensure that its factories operate at full capacity.
Despite the COVID-19 slump, it maintained its facilities and trained employees throughout the pandemic, it added.
AIDC’s cumulative revenue rose 72 percent annually to NT$9.94 billion for the first three months of this year, company data showed.
Global passenger numbers last year recovered to about 68.5 percent of pre-pandemic levels, the company said, citing International Air Transport Association data.
Boeing has forecast that airlines would need 41,170 new aircraft from last year to 2041, while Airbus forecast that 39,490 new planes would be needed, it said.
AIDC said it previously manufactured front compressor cases for LEAP engines, as well as middle compressor cases, combustion chamber diffuser cases, engine hot sections and engine central structural components.
Led by AIDC chairman Hu Kai-hung (胡開宏), the company signed the deal at GE Aerospace’s headquarters in Cincinnati, Ohio, on Tuesday.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
ARTIFICIAL INTELLIGENCE: The chipmaker last month raised its capital spending by 28 percent for this year to NT$32 billion from a previous estimate of NT$25 billion Contract chipmaker Powerchip Semiconductor Manufacturing Corp (力積電子) yesterday launched a new 12-inch fab, tapping into advanced chip-on-wafer-on-substrate (CoWoS) packaging technology to support rising demand for artificial intelligence (AI) devices. Powerchip is to offer interposers, one of three parts in CoWoS packaging technology, with shipments scheduled for the second half of this year, Powerchip chairman Frank Huang (黃崇仁) told reporters on the sidelines of a fab inauguration ceremony in the Tongluo Science Park (銅鑼科學園區) in Miaoli County yesterday. “We are working with customers to supply CoWoS-related business, utilizing part of this new fab’s capacity,” Huang said, adding that Powerchip intended to bridge
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI