BAe plans Taiwan venture

PUBLISHED : Sunday, 17 January, 1993, 12:00am
UPDATED : Sunday, 17 January, 1993, 12:00am

THE private group British Aerospace is expected to clinch an agreement soon on setting up a joint venture with a Taiwan company for the building of a new range of short-haul passenger jets, BAe said on Friday.

The company said the deal with Taiwan Aerospace Corp could be signed at the beginning this week.

Under the agreement, Taiwan Aerospace would take a 50 per cent stake in BAe's ailing regional aircraft division, which currently produces the four-engined BAe-146 plane, for ?120 million, (about HK$1.4 billion) to be paid in several installments.