Airbus confirms China JV
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European planemaker has signed a contract with Chinese partners to create a joint venture to make parts in China for its A350 XWB and A320 aircraft in the country, Reuters reported.
As announced in an agreement last year, Airbus’ Chinese business will hold a 20% stake in the joint venture, based in the northeastern city of Harbin. China’s Harbin Aircraft Industry Group Company Ltd will hold a 50% stake, with three other companies each owning a 10%, Airbus was reported saying.
Manufacturing operations are expected to start in September 2009, with a new plant ready for operations by the end of 2010, the report said.
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