Hit Precision Metal Co signed an agreement on Dec 22 to build a manufacturing center for aviation parts in Banjing town, Rugao, a county-level city in Nantong, East China's Jiangsu province.  

The Rugao-based private company is mainly engaged in the precision casting of automobile parts. Its products are used by world-leading carmakers, including Ford, Volkswagen, Audi, Mercedes-Benz, BMW, and Rolls-Royce.

In recent years, the company has expanded into the aviation industry. Its casting products have been well-received by clients and filled a gap in the domestic market for aviation parts.

The new center will receive 500 million yuan ($71.7 million) in investment and cover an area of 100 mu (6.67 hectares). It is designed to produce three million parts worth 1.5 billion yuan every year.

Zhang Jianhua, Party secretary of Rugao, expressed confidence in the new center. He suggested that the company make full use of its technological strength and work to become one of the city's leading equipment manufacturers.

Zhang also urged the local government to improve services and ensure that construction on the center can proceed smoothly.