Airbus to increase share in Harbin venture

Airbus SAS and the Aviation Industry Corporation of China signed an agreement on Wednesday to increase Airbus' share in the Harbin Hafei Airbus Composite Manufacturing Center from 20 to 25 percent.

The European airplane manufacturer did not release further details about the transaction.

The center in Harbin, Heilongjiang province, is owned by Airbus and a group of Chinese partners, including some subsidiaries of AVIC.

HMC will increase the production of A320 rudders from 50 percent of Airbus' total global production to 80 percent, according to the agreement.

The two parties will also work toward ensuring a ramp up of the A350 XWB work packages at the HMC and commit to exploring other opportunities.