Binhai New Area aerial view
Boeing’s aircraft parts joint venture in China launched an expansion project in Tianjin, the official Xinhua News Agency reported, citing the U.S. aircraft maker.
The 21-million-U.S.-dollar project was launched after the global giant acquired a majority stake in the Tianjin-based BHA Aero Composites Parts Co. Ltd. (BHA) in July.
Boeing also gained rights to land adjacent to the venture facilities in the Binhai New Area.
Construction was expected to be completed by early 2010 and the new facility would be fully operational by 2013, the U.S. company said.
The expansion would increase capacity by about 60% by 2013 and employment will rise to about 1,000 from the current 600.
The $21-million expansion of BHA Aero Composites Parts Co. was launched after Boeing increased its shareholding in the company in July to a controlling stake. AVIC also owns a stake in the venture.
The new factory will be completed early 2010 and be operational by 2013.
Sources: CNN Money and China View
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