UK engineering group GKN is planning a tie-up with China’s state-owned aerospace giant Comac in a bid to boost its fortunes.
GKN is reportedly close to sealing a joint venture deal with Comac, according to Sky News.
It’s reported that the new venture will be unveiled by Chancellor Philip Hammond during a visit to China next month.
Comac has already made other deals with Western manufacturers, winning a $33m investment from Boeing in September.
GKN, which makes wing parts for Airbus, has recently been discussing plans to break up its aerospace operations.