Airbus to increase share in Harbin venture
Updated : 2014-02-21
By ( chinadaily.com.cn )
Visitors walk past an Airbus A350 on display at the Singapore Airshow Feb 12, 2014. [Photo/Agencies]
Airbus SAS and the Aviation Industry Corporation of China signed an agreement on Wednesday to increase Airbus' share in the Harbin Hafei Airbus Composite Manufacturing Center from 20 to 25 percent.
The European airplane manufacturer did not release further details about the transaction.
The center in Harbin, Heilongjiang province, is owned by Airbus and a group of Chinese partners, including some subsidiaries of AVIC.
HMC will increase the production of A320 rudders from 50 percent of Airbus' total global production to 80 percent, according to the agreement.
The two parties will also work toward ensuring a ramp up of the A350 XWB work packages at the HMC and commit to exploring other opportunities.
Harbin regained the honorary title of "National Civilized City" on Aug 21.
Harbin Economic and Development Zone recently issued measures for the innovative development of the industrial chain.
The Harbin area of China (Heilongjiang) Pilot Free Trade Zone recently moved to streamline its small business licensing regulations to help stimulate the zone’s economy.
Heilongjiang province will leverage all its formidable array of natural advantages to develop its popular winter tourism.