IN BRIEF (Page 13)

XAC completes acquisition

Xi'an Aircraft Industry (Group) Company Ltd (XAC) yesterday finalized its acquisition of an Austria-based leading aviation parts supplier to Boeing and Airbus, completing the first foreign acquisition by China's aviation manufacturing industry.

The acquisition of 91.25 percent of the equity of Austria's FACC AG has been made through a joint venture between XAC and a Hong Kong-based investment fund.