(Yicai Global) March 14 -- Shandong Nanshan Aluminum Co. will cooperate with French airplane parts company Figeac Aero SA to set up a joint venture in China for the production of aircraft components and parts.

Nanshan Aluminum and Figeac Aero signed a cooperation agreement on March 10, said a statement from the Chinese partner yesterday. Nanshan Aluminum hopes to extend its industrial chain and provide customers with more added-value products and services through the JV, it said.

Nanshan Aluminum, or a wholly owned subsidiary designated by the company, and the French partner will each contribute USD10 million in cash for the establishment of the joint venture, it added.

The joint venture will mainly produce airplane parts, such as longerons, tracks, and wing chords, which have relatively high requirements for raw-material production and machining, the statement said.

Nanshan Aluminum will be the material provider, while the joint venture will use the proprietary technologies and technological support of Figeac for machining and production. The Chinese company will also carry out technology cooperation with its French partner to meet customers' technical requirements for products.

Figeac Aero is a specialized provider of small-, medium-, and large-sized parts and sub-assembly components to important aviation parts manufacturers and airplane manufacturers. It is one of the top 20 suppliers of Airbus and a supplier of Boeing, the statement added.