It will service Moog products on Boeing 787, Airbus.
SIA Engineering Company (SIAEC) has sealed the deal with Moog Incorporated to establish a joint venture to provide maintenance, repair and overhaul (MRO) services for Moog’s products on Boeing 787 , Airbus, A350, and other new generation aircraft.
According to SIAEC’s media release, Moog will bag a 51% stake in the JV, while SIAEC holds 49%. The Singapore-based JV will be Centre of Excellence in Asia Pacific for Moog’s products on both the 787 and A350 aircraft.
Lim Kok Kiang, Singapore Economic Development Board’s assistant managing director, commented that the JV is a testament to Singapore’s status as an attractive business location for aerospace companies. He added that the partnership will also boost the country’s MRO ecosystem by introducing flight controls component capabilities for new-generation aircraft.
SIAEC asserts that this deal will not materially impact SIAEC’s financial performance in FY16.
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