The Saxon aircraft construction supplier Cotesa has been taken over by a Chinese group. A hanging game for companies and employees is over: The supplier from Saxony wants to grow among the new owners.
The investors are backed by a Chinese state-owned corporation. The transaction has also prompted the Ministry of Economics. To date, Cotesa has supplied Airbus and Boeing with carbon fiber components. Through the commitment of AT&M (Advanced Technology & Materials), a subsidiary of the state-owned China Iron & Steel Research Institute Group, the company gains access to the Chinese market. In the future, the Saxons also want to supply the state-owned Chinese aircraft manufacturer Comac. AT&M has announced the construction of a new plant in China.
At the end of December it had become known that the Federal Ministry of Economics was reviewing the transaction in accordance with the stricter Foreign Trade and Payments Act. The release took place in mid-April according to company information.
