Shearman & Sterling is advising Cessna Aircraft Company, through its parent, Textron Inc., on its joint venture contracts with subsidiaries of China Aviation Industry General Aircraft Company Ltd., (CAIGA). One joint venture, to be based in Zhuhai, will conduct final assembly of Cessna Citation XLS+ aircraft for the China market. The other joint venture, to be based in Shijiazhuang, will conduct final assembly of Cessna Caravan utility turboprop aircraft for the China market. Formation of the joint venture companies remains subject to various government approvals and customary conditions.
Cessna is the world's leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 193,500 airplanes around the globe.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services.
CAIGA, a subsidiary company of Aviation Industry Corporation of China (AVIC), is a leading domestic and global aviation company.
The Shearman & Sterling team included partners Lee Edwards (Beijing-Mergers & Acquisitions), Dale Collins (New York-Antitrust), and Richard Hsu (Palo Alto-Intellectual Property Transactions); counsel Wayne Lee (Beijing-Mergers & Acquisitions), Lisl Dunlop (New York-Antitrust), and Robert LaRussa (Washington, DC-International Trade & Investment); associates Crystal Chen (Shanghai-Project Development & Finance), Bao Zheng (Palo Alto-Intellectual Property Transactions), Dan Stellenberg (Palo Alto-Executive Compensation & Employee Benefits); and Lisa Raisner (Washington, DC-International Trade & Investment).