EU approves HAPM-Magna joint venture for automotive seat components in China

The European Commission approved a joint venture between China's Hubei Aviation Precision Machinery Technology (HAPM) and Canada's Magna International. The green-field JV, located in China and worth up to 1.49 billion yuan ($221.8 million), will manufacture and sell automotive seat components for the Chinese market.

“The joint venture, signed between China's Hubei Aviation Precision Machinery Technology (HAPM) and Magna International of Canada, will not be active within the European Economic Area.”chinadaily.com.cn

• 2 sources
• chinadaily.com.cnEU approves joint venture by China's HAPM, Canada's Magna in automotive sector - Chinadaily.com.cnAug 4, 2017
• global.chinadaily.com.cnEU approves joint venture by China's HAPM, Canada's Magna in automotive sector - Chinadaily.com.cn朱凌青Aug 4, 2017

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