TAIPEI (Taiwan News) – The Aerospace Industrial Development Corporation (AIDC) signed contracts worth billions at the Farnborough Airshow in Great Britain, reports said Friday (July 26).

The international event held once every two years attracted 299 exhibitors from the aviation, aerospace and defense industries in 44 countries to its latest edition. On the first day of the July 22-26 show, AIDC signed a contract worth NT$7 billion (US$213.42 million) to supply engine parts, per CNA.

The company added that two major European companies had agreed to renew deals each worth more than NT$100 million. The contracts involve the production of parts for civilian narrow-body aircraft until 2029.

The deals will ensure a stable source of revenue for the defense contractor for years to come, according to AIDC. The company also signed a memorandum of understanding (MOU) with a major Asian corporation, covering technology related to composite materials and tension testing for metals. 

AIDC emphasized its experience in these sectors, as it manages the Taiwan Advanced Composite Center (TACC) to produce parts for the regional aerospace sector.