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Eclipse expands very light jets into Russia
19 October 2008
The light jet manufacturer is moving into new territory. By Will Roberts.
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Eclipse Aviation
Vnesheconombank
As aviation companies shrink operations and cut staff to cope with the financial meltdown, Eclipse Aviation has struck out on a different route. As part of a drive to globalize operations, it has decided to expand into Russia.
From 2010, the manufacturer of the four- to five-seat very light jets (VLJs) will begin assembly of the Eclipse 500 from a plant in Ulyanovsk, after being given the go-ahead from Russian state bank Vnesheconombank (VEB). The new plant plans to produce 800 jets a year.
VEB, which is chaired by Vladimir Putin, Russia's prime minister, will finance the $205 million project in full after its supervisory board approved construction of the plant.
"Obtaining the approval and financing is an enormous step forward in our efforts to globalize the Eclipse 500 and create a highly competitive worldwide business model for Eclipse Aviation," says Roel Pieper, the manufacturer's chief executive officer.
The manufacturer,...
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