The Seagoe firm of Thompson Aero Seating has been bought by The Aviation Industry Corporation of China (AVIC).
Thompson Aero Seating, established in 2009, specialise in premium business class seating for aircraft.
In a statement, the company said they expect to expand their current capacity to fulfil their “fast-growing order book” and that “being underpinned by a strong industrial backer in AVIC will serve to consolidate our continued growth in Northern Ireland”.
They said they welcomed the backing of AVIC and becoming part of a broader offering of Cabin Interior products.
The deal has been agreed subject to regulatory approvals.
The announcement has been welcomed by UUP councillor Arnold Hatch. a former employee of Learfan Aircraft Corporation. He said, “Although we don’t have many details at the moment, I hope it means more investment and expansion in the Portadown plant, because we have the skills and technology already in place.”
AVIC have more than 100 subsidiaries, nearly 27 listed companies and more than 450,000 employees.