Hubei Aviation Precision Machinery Technology

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.

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.

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.