Magnus to start construction of Chinese production plant in July
Hungary's Magnus Aircraft is slated to start building its first production plant in Wuxi, near Shanghai, in July, while a showroom will be ready within six months, the company said on Wednesday.
The company’s management recently visited China to review the status of the project that started last September to build units on an area of 18,000sqm for which the Chinese government will cover 70 percent of the costs of the 175 million euro investment.
The site for developing composite materials, aircraft assembly and maintenance will also be home to a development centre established in partnership with the University of Obuda.
The investment by Magnus Aircraft’s Hungarian-Chinese joint venture, Jiangsu Magnus Aircraft Manufacturing, is set to create 300 jobs.
China’s Rizhao Wohe Aviation Service has signed an order for 50 of Magnus’s Fusion aircraft, the company said in May.
