Magna Partners with Chinese Seating Supplier

Magna International Inc. has agreed to form a joint venture with China's Hubei Aviation Precision Machinery Co. (HAPM).

The companies expect to close the deal in the fourth quarter. No other details were announced.

Based in Hubei Xiangyang, HAPM is a subsidiary company of AVIC Electromechanical Systems Co. The 22-year-old company develops and manufactures manual/power seat recliners, tracks, height adjusters and structures.

Magna expects the JV to help expand its seating business in China and elsewhere in Asia.