Canny Elevator Finds Partner to Exploit Rising Number of Airports in China
Tang Shihua
DATE:  Mar 08 2018
/ SOURCE:  Yicai
Canny Elevator Finds Partner to Exploit Rising Number of Airports in China Canny Elevator Finds Partner to Exploit Rising Number of Airports in China

(Yicai Global) March 8 -- Canny Elevator Co. is planning to investor in an airport equipment supplier to capitalize on China's expanding air transport network and make waves in a market dominated by foreign brands.

Canny penned the deal with Jiangsu Tianyi Airport Special Equipment Co., it said in a statement. The firm expects to spend up to CNY20 million (USD3.2 million) for a stake in the firm, enough to make it an important shareholder, it added, saying it will finalize details once the target firm has been audited.

The Civil Aviation Administration of China expects to see 74 new airports in the country from 2016 through 2020, it said in its five-year plan for the period. It forecast there will be 30 under construction and 44 new ones built in that time.

Jiangsu Tianyi will exploit its own sales channels to help Canny target the high-end market for airport escalators, a sector currently dominated by foreign companies. The pair will also research facilities and products that bring more added value to the industry.

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Keywords:   Business Partnership,Airport Equipment Supplier,Airport Elevators