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BAe in Taiwan joint venture

BRITISH Aerospace is forming a dollars 400m joint venture with Taiwan Aerospace Corp (TAC) to manufacture commercial airplanes.

'The deal with the British aircraft maker is suitable for development of the fledgeling aviation industry here,' said Denny Ko, TAC manager in Taipei.

He added that he was due in London today to finalise the joint venture with BAe to manufacture medium- and short-haul passenger jets.

The deal also involves component part manufacturing, aircraft production and design, and research and development.