# EU approves joint venture between HAPM and Magna for automotive seat components

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. The joint venture is worth up to 1.49 billion yuan ($221.8 million) and is expected to be concluded between September and December 2017.

- Type: Acquisition
- Announced: 2017-08-03
- 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

- [global.chinadaily.com.cn](https://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."

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