GKN planning joint venture with Chinese aerospace giant

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.

Boeing deal

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.