With the majority takeover of FACC by the Aviation Industry Corporation of China, the Austrian plastics specialist entered a new era in 2009. In the space of just one decade, the company evolved from a medium-sized enterprise into a global corporation.
There is hardly anyone who is not familiar with global players such as Airbus or Boeing. However, only very few know that the Aviation Industry Corporation of China (AVIC) is one of the world’s largest aircraft manufacturers. The Fortune 500-group comprises the impressive number of around 100 subsidiaries with a total workforce in excess of 450,000. 28 of these companies are listed on the stock exchange, including FACC, in which AVIC has held a majority stake since 2009.
The underlying rationale behind the takeover was the creation of a strategic alliance that would soon prove to be a success story for both sides. With this acquisition, the AVIC Group gained access to FACC’s immense know-how in the fields of lightweight construction and aerospace. At the same time, the Chinese group has invested approximately EUR 500 million in the technology and location development of FACC since 2009. This commitment has enabled the construction of two new plants. In addition, approximately 2,000 attractive new jobs have been created, and FACC AG went public in 2014. Most importantly, the partnership has given FACC access to the Chinese market and thus to one of the largest growth regions in the aviation industry.
The boost given to FACC through the takeover by AVIC is clearly illustrated by the development of group sales: Whereas these amounted to approximately EUR 250 million in 2008/09, they already stood at EUR 782 million in the 2018/19 financial year. Within just one decade, group sales had thus more than tripled.
This positive development, however, is not limited to sales. FACC is currently represented with parts on all important aircraft platforms and enjoys an excellent reputation as a reliable partner and innovation driver throughout the industry. Today, ten years after its acquisition, FACC has become an indispensable part of the AVIC group structure, the core business of which is the research, development and manufacture of aircraft.