05.04.2004 – 15:00
Airports of Frankfurt and Shanghai Establish Consulting Subsidiary
Frankfurt, Germany (ots)
Fraport AG Frankfurt Airport Services
Worldwide (FSE: FRA) and the Shanghai Airport Group have signed a
contract establishing a joint-venture subsidiary, which both
companies had already announced in 2003. Under the agreement, each
airport company holds a 50-percent share in Shanghai Frankfurt
Airport Consulting Service Co. Ltd., based in Shanghai, China. The
joint-venture agreement was signed by Fraport's executive board
chairman, Dr. Wilhelm Bender, and executive board member for finance,
Dr. Stefan Schulte, along with Wu Nianzu, the executive board
chairman of Shanghai Airport Group.
The new Shanghai Frankfurt Airport Consulting Service Co. Ltd.
will provide, in particular, expert advice on constructing and
managing airports in China, as well as personnel training for civil
aviation. The young enterprise will start operations with two
managers and a staff of four. Fraport will be sending two staff
members to China, including one to serve as general manager.
The new agreement covers a 20-year-period. At the end of 2002,
Fraport AG and the Shanghai Airport Group signed their first
cooperation agreement for jointly marketing airport expertise
throughout China. On that occasion, Fraport's Bender stressed: "FRA
is considered a global brand by airport professionals worldwide. We
will do everything in our power to make this long-term strategic
partnership with Shanghai a success."
ots Original Text Service: Fraport AG
For More Information, Please Contact: Fraport AG Frankfurt Airport Services Worldwide Robert A. Payne - Manager International Press 60547 Frankfurt am Main, Germany Tel.: +49 69.690.78547; Fax: +49.69.690.60548; E-mail: email@example.com; Internet: www.fraport.de (click on "Press Lounge")
Original content of: Fraport AG, transmitted by news aktuell