SIAEC divests its entire stake in aerospace company for US90,000

It sold its 60% shareholding to STRATASYS.

SIA Engineering Company Limited (SIAEC) has sold its 60% stake in Additive Flight Solutions (AFS) to STRATASYS for US$90,000 ($121,037.85).

AFS is a joint venture between SIAEC and SSYS, where the former holds 60% and the latter holds a 40% stake.

AFS manufactures aircraft cabin interior parts and toolings for the aviation maintenance, repair, and overhaul (MRO) sector, utilising additive manufacturing (3D printing) technology

Following the sale, AFS ceased to be a subsidiary of SIAEC. 

SIAC said it is not expecting the transaction to have a material impact on its net tangible assets per share or the earnings per share of the SIAEC Group for the financial year ending 31 March 2024.