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SIAEC forms JV with aircraft parts supplier Moog
MAINBOARD-LISTED SIA Engineering Company (SIAEC) has formed a joint venture (JV) with aircraft parts supplier Moog to provide maintenance, repair and overhaul services for Moog's products on Boeing 787, Airbus A350 and other new-generation aircraft.
Under the Memorandum of Understanding signed on Wednesday, Moog - a New York Stock Exchange-listed company - will have a 51 per cent stake in the JV, and SIAEC 49 per cent.
The Singapore-based JV will be the "centre of excellence" in the Asia-Pacific for Moog's products on both the Boeing 787 and A350 aircraft.
This transaction is not expected to have a material impact on SIAEC's financial performance in FY2015/16, said the company.