SINGAPORE, 3 OCTOBER 2017 – SIA Engineering Company (“SIAEC”) and Moog Inc. (“Moog”) have incorporated a joint venture company, Moog Aircraft Services Asia Pte Ltd. SIAEC holds a 49% equity stake in the company and Moog holds the remaining 51%.
This follows SIAEC and Moog’s announcement on 22 December 2016 of the intent to set up a joint venture to provide maintenance, repair and overhaul services for Moog manufactured flight control systems fitted on new generation aircraft including the Boeing 787 and Airbus A350.
The Singapore-based joint venture will combine the expertise of Moog and SIAEC to provide component repair services to customers in Asia Pacific and beyond. Moog is committed to develop the joint venture as its Centre of Excellence in Asia Pacific for Moog’s products on the Boeing 787 and the Airbus A350 aircraft.
With this addition, SIAEC will have a comprehensive portfolio of 26 joint ventures across 9 countries with leading OEMs and other strategic partners. The SIAEC Group will continue to pursue strategic investments to strengthen its competitive advantage.
The joint venture is not expected to have a material impact on SIAEC’s financial performance in FY2017/18. None of the Directors of SIAEC has any interest, direct or indirect, in the transaction.