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China Launches Own Aircraft Engine-Maker to Rival the West

posted by CoolHand on Monday August 29 2016, @07:42PM   
from the final-step dept.

Arthur T Knackerbracket has found the following story:

China has launched its first aircraft-engine manufacturer in an attempt to wean itself off Western suppliers.

The state-owned Aero-Engine Group of China was created by combining a group of existing aircraft-engine companies, according to local media reports.

It has about 50bn yuan ($7.5bn) in registered capital and will develop both military and commercial engines.

China already makes its own planes, but has struggled for decades to develop engines that meet global requirements.

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Original Submission

• Short-term thinking, MBA’s in action... Short-term thinking, MBA’s in action... (Score: 5, Insightful) by Bobs on Monday August 29 2016, @09:00PM

  by Bobs (1462) on Monday August 29 2016, @09:00PM (#394928)

  This is an example of non-Chinese manufacturers agreeing to move production plants into China, in order to sell there.

  GE (and many, many others) have built plants in China, effectively turned over trade secrets and manufacturing processes to state-owned firms/partners.

  Now the people and plants in China don’t need GE and will be competing internationally for GE's customers.

  The “highly paid executives” of GE, whose amazingly intelligent decisions justified their 7 and 8 figure payouts, sold out a 100-year old company, the shareholders, the employees and the tax payers that helped build them.

  The MBA's / exec's will retire with very, large golden parachutes while GE’s businesses get undercut and hollowed out.

    Farking parasites, selling out the long-term health of the company for short-term, personal profits.

  FYI:

  • GE Aviation's Presence in China Continues to Grow [soylentnews.org]
  • (PDF) September 28, 2010—GE (NYSE:GE) today announced a joint venture with Harbin Electric Machinery Co., Ltd. (HEC), a subsidiary of Harbin Power Equipment Co., Ltd. (HPEC), to manufacture and supply wind turbines to its customers in China. The deal enhances GE’s ability to compete in China’s $13 billion wind industry segment. [soylentnews.org]
  • Rolls Royce manufacturing Jet Engines in Britain [soylentnews.org]

   

  Starting Score:	1		point
  Moderation		+3
  Insightful=2, Informative=1, Total=3
  Extra 'Insightful' Modifier		0
  Karma-Bonus Modifier		+1
  Total Score:		5

• Re:Short-term thinking, MBA’s in action... Re:Short-term thinking, MBA’s in action... (Score: 1, Touché) by Anonymous Coward on Monday August 29 2016, @11:28PM

  by Anonymous Coward on Monday August 29 2016, @11:28PM (#394996)

  Well, the alternative was a bunch of employees enriching themselves via industrial espionage. This way, the execs make the money instead, and it's all legal! They're actually helping their employees not become criminals!

  Parent

  • Re:Short-term thinking, MBA’s in action... (Score: 0) by Anonymous Coward on Wednesday August 31 2016, @03:22AM

    by Anonymous Coward on Wednesday August 31 2016, @03:22AM (#395567)

    The other alternative would be to spend some of that exec bonus money on cybersecurity, so the Chinese don't just download the plans for the engines of GE's servers.

    Parent