• Xiyouyuan Aviation Materials will become one of the distributors of Honeywell flight control systems and related avionics products
• The two sides will also explore cooperation in areas such as aircraft dismantling and used parts maintenance and aviation materials trade

Guangzhou, China, April 16, 2024 — Honeywell (NASDAQ: HON recently announced at the 135th China Import and Export Fair (Canton Fair) that it signed a cooperation agreement with Xiyouyuan Aviation Technology Group Co., LTD. (hereinafter referred to as “Xiyouyuan Group”) and its subsidiary Xiyouyuan Aviation Equipment Co., LTD. (hereinafter referred to as “Xiyouyuan Aviation Materials Company”). The company will become one of Honeywell’s distributors of flight control systems and related avionics products, while the two parties will also cooperate in the areas of aircraft dismantling and used parts maintenance and used aviation materials trade.

DS215TCQAG1BZZ01A The picture shows the signing ceremony between Honeywell and Xiyouyuan

Honeywell and Xiyouyuan Aviation Materials signed a distribution agreement for Honeywell flight control systems and related avionics products at the Canton Fair. The agreement covers Honeywell flight control systems and related avionics products designed for domestic aircraft. This partnership marks the moment that Xiyouyuan Aviation Materials will become one of the distributors of Honeywell flight control systems and related products under the terms of the distribution agreement to shape the future of aviation.

In addition, Honeywell signed a memorandum of strategic cooperation with the Hei Youyuan Group in the areas of Airbus A320 and Boeing B737 aircraft dismantling and used parts maintenance and used aviation materials trade. As one of the key enterprises in the domestic aviation supply chain, Xiyouyuan Group has a unique advantage in the aviation materials trade industry. The two sides will jointly explore the local market, accelerate the response speed of customer service, and promote the localization of aviation materials supply.

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“Honeywell is committed to actively working with local customers, partners and suppliers to help China’s aviation industry move towards a safe, efficient and sustainable future.” Xu Jun, President of Honeywell Aerospace Technologies Asia Pacific, said, “We are honored to reach a partnership with Xiyouyuan Group to help accelerate the improvement of domestic aircraft supply chain supporting capabilities, and jointly support domestic aircraft into a new stage of batch production growth and commercial takeoff. At the same time, we also look forward to more cooperation with Xiyouyuan Group in the areas of aircraft dismantling and used parts maintenance and used aviation materials trade.”

DS215TCQAG1BZZ01A “Under the leadership and strong support of the provincial Party Committee and the provincial government of Shanxi Province, after a short period of five years, Xiyouyuan Aviation Technology Group has developed rapidly. Based on the business of civil aviation maintenance and aviation materials trade, Xiyouyuan is committed to promoting the high-quality development of the air economy in Shanxi Province.” Wang Yu, Chairman of Xiyouyuan Aviation Technology Group, said, “We are honored to have a close business relationship with Honeywell, a Fortune Global 500 company with a century-long history in the aviation industry. In the next step, Xiyouyuan will carry out broader cooperation with Honeywell, strive to explore the market and contribute to the high-quality development of China’s civil aviation.”

Honeywell is committed to combining the three major business trends of automation, future aviation and energy transformation with the actual needs of Chinese customers, supporting the development of China’s aviation industry with advanced technologies and solutions, helping China’s aviation industry to build brands and products with international influence, and win opportunities in the global aviation market.