Aircraft Component Producing Factory Opens in Georgia

Aero-Structure Technologies Cyclone (ATC), a factory which will produce parts of aircrafts, has been opened in Tbilisi on May 10.

$93 million was invested in the project, implemented by the Partnership Fund and Israeli company Elbit Cyclone.

The factory, which is the first of this kind in the south Caucasus, will release the first product in early 2019 after being certified.

Customers of the products produced in Georgia will be the major players of the World air industry, such as Boeing, Bombardier, Airbus and others, which means that the production will be 100% export-oriented.

About 80 people are employed in the company, but after the full activation of the enterprise, 300 people will be employed.

The official opening ceremony was attended by the Prime Minister of Georgia Giorgi Kvirikashvili, representatives of government, parliament, local government, diplomatic corps and business circles as well as Israeli government officials.

According to the PM, Georgia is earning its place on the map of the international air industry. He thanked the Israeli side for the investments and underlined that the two states have friendly and long-lasting relations.

“The joy of our two brotherly countries has been united in this beautiful project and this is a day of resurrection of air industry in Georgia,” he said.

Kvirikashvili claimed the annual sales of the facility will exceed $60 million in five years. 

By Thea Morrison

Photo source: 1tv.ge