# Steel High Temperature Research Institute and AECC Power to form joint venture in Xi'an

Steel High Temperature Research Institute (Gangyan Gaona) and AECC Power (Hangfa Dongli) will jointly establish Xi'an Steel High Temperature Research Institute Aviation Components Co., Ltd. in Xi'an, Shaanxi, China, with a registered capital of CNY 110 million. Gangyan Gaona will contribute CNY 74.77 million for a 67.97% stake, and AECC Power will contribute assets worth CNY 35.23 million for a 32.03% stake.

- Type: Acquisition
- Announced: 2022-04-22
- Where: Xi'an, Shaanxi, China, China
- Value: $17.0M (110.0M CNY)
- Status: announced
- Products: aircraft components
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Steel High Temperature Research Institute](https://endata.com/companies/62443.md)
- [AECC Power](https://endata.com/companies/62444.md) (partner)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/707543.html), 2022-04-22: "The company intends to establish a joint venture with AECC Power to enhance its industrial capabilities and promote the gradual implementation of its long-term strategic plan."

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