US manufacturer Eaton forms joint venture in China

US manufacturer Eaton Corporation (ETN.NYSE) announced a joint venture with China’s state-owned Commercial Aircraft Corporation of China (COMAC), Reuters reported. Eaton is expected to take a 49% stake in the venture, the majority of which will be held by Shanghai Aircraft Manufacturing Company, a COMAC subsidiary. The two firms plan to develop fuel and hydraulic systems to supply components for what will be China’s first large commercial airplane, the C919 single-aisle aircraft. The program is expected to generate US$1.8 billion in revenue. Eaton is the latest of many large American manufacturers to take a stake in the project, after others including General Electric (GE.NYSE) and Honeywell (HON.NYSE).