# EU approves joint venture between HAPM and Magna International

The European Commission approved a joint venture between China's Hubei Aviation Precision Machinery Technology (HAPM) and Canada's Magna International to manufacture and sell automotive seat components in China, worth up to 1.49 billion yuan.

- Type: Partnership
- Announced: 2017-08-04
- Where: China, China
- Value: $221.8M
- Status: announced
- Products: automotive seat components
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Magna International](https://endata.com/companies/2534.md) (partner)
- [Hubei Aviation Precision Machinery Technology](https://endata.com/companies/17479.md) (partner)

## Sources

- [ecns.cn](http://www.ecns.cn/business/2017/08-04/268094.shtml), 2017-08-04: "The European Commission gave the green light to a joint venture by Chinese and Canadian companies in the automotive sector on Thursday, saying it raised no competition concerns."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.