Magna enters joint venture with Chinese seating supplier

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Azadi Ka Amrit Mahoutsav

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  • JV bolsters Magna’s product portfolio in seat mechanisms and structures
  • Magna’s global resources and operational expertise complements JV partner
  • Partnership enhances both companies’ footprint and customer base in Asia

SHANGHAI, April 28, 2017 /PRNewswire/ – To expand its seating expertise in China and throughout Asia, Magna has entered into a joint venture cooperation agreement with China’s Hubei Aviation Precision Machinery Co., Ltd. (HAPM).  Subject to regulatory approval, the deal is expected to close in the fourth quarter of 2017.

HAPM is a major Chinese automotive seat mechanism and structure component supplier and a subsidiary company of AVIC Electromechanical Systems Co., Ltd (AVICEM). Headquartered in Hubei Xiangyang, HAPM designs, develops and manufactures a wide range of automotive seating products from manual/power recliners, tracks, height adjusters and structures.  Established in 1995, the company has built up a solid customer base in both domestic and overseas markets.

The strategic cooperation brings together two innovative suppliers in the seating market to deliver a stronger product portfolio and advanced technology development to customers.

“We are very pleased to establish such a cooperative relationship with Magna. As a world leading automotive supplier, Magna’s global resources and expertise will be vital to the joint venture’s success,” said Mr. Wang Jian, Chairman of AVICEM.

“As the world’s largest vehicle market, China is a region in which we want to expand our seating capabilities, and with HAPM’s strong market position and seating mechanism know-how, we expect to grow our business even further in the region and throughout Asia,” said Mike Bisson, President of Magna Seating.

About Post Author

Editor Desk

Antara Tripathy M.Sc., B.Ed. by qualification and bring 15 years of media reporting experience.. Coverred many illustarted events like, G20, ICC,MCCI,British High Commission, Bangladesh etc. She took over from the founder Editor of IBG NEWS Suman Munshi (15/Mar/2012- 09/Aug/2018 and October 2020 to 13 June 2023).
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