The Austria-based company Future Advanced Composite Components (FACC) has been bought by Xi’an Aircraft Industry Company (seen working in our illustration) and the deal was signed in Vienna.
The vast majority of 91.25% stakes of FACC was acquired by Xi’an Aircraft-ACIC and Hong Kong ATL jointly, in which Xi’an Aircraft-ACIC has absolute control.
It was the largest acquisition implemented by Chinese enterprises in Europe, and it also was the first time that an aerospace manufacturing company of Europe was acquired by an Asian aerospace manufacturing company.
China Daily reports that FACC is a large specialized company founded in 1989, engaging in manufacturing composite material in parts and systems. The main products of the company include aerospace structural components and aviation interior products. It is the supplier of Airbus 380 and sub-tier supplier of Boeing 787, but also the aviation composite material supplier of such internationally well-known aircraft manufacturers as Boeing, Airbus, Bombardier, Alenia Aeronautica and Eurocopter.