# 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.

- Type: Acquisition
- Announced: 2017-08-03
- Where: China, China
- Value: $221.8M (1.49B CNY)
- 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

- [chinadaily.com.cn](https://www.chinadaily.com.cn/a/201708/04/WS59bb58c5a310d4d9ab7e2e7b.html), 2017-08-04: "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."
- [global.chinadaily.com.cn](http://global.chinadaily.com.cn/a/201708/04/WS59bb58c5a310d4d9ab7e2e7b.html), 2017-08-04: "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."

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