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Tiancheng aircraft seat deal

Zhejiang Tiancheng Controls Co said that it plans to take over UK-based Acro Holding in an all-cash deal, according to a filing it sent to the Shanghai Stock Exchange on Friday.

Zhejiang Tiancheng Controls Co, based in Taizhou, East China’s Zhejiang Province, is a manufacturer of seats for construction vehicles, trucks and cars, while Acro Holding is a major player in the global market for economy aircraft seats.

The Chinese company said in an early statement in May that the acquisition is for improving its own technology standard while laying a solid foundation for the rapid development of domestic air seats. The transaction value was put a 480 million yuan ($71.75 million).

Lifan vehicles to Russia

Chinese vehicle producer Lifan Industry (Group) Co said Saturday that a subsidiary has signed an agreement with Russia’s ABC-Motors to sell Lifanbranded vehicles worth about $100 million to the Russian company.

The purchases will occur by 2020 and will include about 10,000 vehicles, according to a filing that Lifan sent to the Shanghai Stock Exchange.

The vehicle company, based in Southwest China’s Chongqing, said the cooperation will help its products to expand in Russia’s rapidly developing auto business including shared and rental cars.