Mar 15, 2007

Honda Aircraft Company Advances Toward Production of HondaJet, Three North American Aviation Companies Become Key Suppliers

GREENSBORO, N.C. – Honda Aircraft Company, Inc., (HACI) today announced agreements with GKN Aerospace - Alabama, Avcorp Industries, Inc., and Garmin International Inc., as major component suppliers for the HondaJet advanced light jet, to be produced¹ at a state-of-the-art plant in Greensboro, North Carolina.

GKN, of Tallassee, Alabama, will supply the fuselage structural sub-assembly; Garmin, of Olathe, Kansas, will supply a state-of-the-art avionics system specifically tailored for HondaJet; and Avcorp, of Delta, British Columbia, Canada, will supply HondaJet’s wing structural sub-assembly.

“We are pleased to be entering into collaboration with some of North America’s top aviation industry suppliers, as we continue to focus on developing an innovative aircraft of the absolute highest quality for our customers,” said Michimasa Fujino, President and CEO of Honda Aircraft Company, Inc. “The sourcing of these key components from suppliers in the U.S. and Canada is consistent with Honda’s philosophy of producing products close to the customer.”

Honda Aircraft Company on February 9 announced plans to establish its world headquarters and jet plant in Greensboro, North Carolina, with construction of new facilities at Piedmont Triad International airport. Scheduled to open late this year, the 215,000 square foot headquarters will be the center of all activity related to HondaJet, including type certification, all sales, marketing and service support activity, and continued research and development activities. HACI expects to employ more than 300 associates at its headquarters and manufacturing facilities once the plant reaches full production.

¹ produced using domestic and globally sourced parts
The HACI production facility, to be built adjacent to the headquarters, will handle production of HondaJet, including final assembly of all structural components and parts, aircraft system assembly and installation, completion of the interior, and painting. The Greensboro production facility is scheduled to begin deliveries to customers in 2010.

Honda Aircraft Company, Inc. and HondaJet

Greensboro-based Honda Aircraft Company, Inc., is responsible for the continued development, certification and production of HondaJet, as well as all marketing, sales and service support.

HondaJet, Honda's first-ever commercial aircraft, lives up to the company's reputation for superior fuel efficiency, delivering 30-35 percent better cruising fuel efficiency than comparable jets, along with a class-topping cruise speed of 420 knots (450 mph) and a more spacious cabin with room for up to eight people. All major assembly and testing of the prototype HondaJet has been conducted at the company's existing Greensboro facility, which opened in 2001 as an extension of Honda's global R&D operations.

The decision to commercialize HondaJet was announced in July 2006, followed by the August 4, 2006, establishment of Honda Aircraft Company, Inc. The company has received more than 100 customer orders for the $3.65 million HondaJet since its launch, October 17, 2006. The HondaJet production facility will become Honda's seventeenth major manufacturing plant in North America, including two currently under construction in Indiana and in Ontario, Canada.