Airbus supplier Gardner Aerospace has completed its sale to Ligeance Investments Ltd., a Hong Kong-based subsidiary of Chinese firm Shaanxi Ligeance Mineral Resources (SLMR), according to a company press release.

Gardner (Hall 2b, Booth E140) is Europe’s largest supplier of aerospace detailed parts and sub-assemblies, providing parts to key aerospace firms including Airbus, Spirit, GKN and Stelia Aerospace. The company employs more than 1,400 people worldwide and has 10 facilities in the UK, France, Poland and India.

“With the long-term backing of our new owners, we will be able to accelerate our growth plans, construct operations in new locations and continue to offer our customers, such as Airbus, excellent quality production at competitive prices,” said Nick Sanders, executive chairman, Gardner Aerospace.

The deal is worth more than £300 million (US$384 million), and gives Gardner access to the growing Chinese domestic market, according to the press release. SLMR started in 1993 as a mining business, but has recently diversified into the aerospace sector and now has a number of subsidiaries dedicated to engine and airframe work.

“The acquisition of Gardner Aerospace will allow us to serve our customers better – in China and the rest of the world – for decades to come,” said Zheng Zhang, chairman of SLMR.

“With the management team at Gardner Aerospace, we intend to further consolidate the global aerospace supply chain through careful, strategic acquisitions.”