Airbus, Harbin plane parts maker form joint venture

Airbus and Harbin Aircraft Industry Group Co (HAIG) will set up a joint venture early next year to produce aircraft composite material parts and components.

The joint venture will be 80 percent controlled by HAIG, a company affiliated to China Aviation Industry Corp II (AVIC II), while Airbus will own the rest of the stakes. It will provide composite materials for Airbus A320 aircraft and participate in the industrialization and serial production of the A350 XWB work packages, due to enter service in 2013.

The two companies signed a framework contract on Tuesday at the 2008 Farnborough International Airshow in Britain.