The Xinhua news agency reported on Nov. 19 that The Boeing Co. (Chicago, Ill.) has broken ground on an expansion of its China venture in the port city of Tianjin, China.
The report says the $21 million project was launched after Boeing acquired a majority stake in the Tianjin-based BHA Aero Composites Parts Co. Ltd. in July. The agency also says Boeing gained rights to land adjacent to the venture facilities.
BHA was previously a joint venture between Boeing, carbon fiber manufacturer Hexcel and the former China Aviation Industry Corp. I (AVIC I). AVIC I and II subsequently merged to create the China Aviation Industry Corp. (AVIC) this month. Earlier this month, Boeing renamed BHA as Boeing Tianjin Composites Co. after the company purchased a 40 percent stake in the venture from Hexcel. The venture has supplied composite parts to domestic and foreign companies since it started up in 2002, says the report.
Information: Visit news.xinhuanet.com/english/2008-11/19/content_10382238.htm for original Xinhua story.