SINGAPORE, 4 DECEMBER 2021 – Mainboard-listed SIA Engineering Company Limited (“SIAEC”) is pleased to announce that it has signed a 10-year agreement with Safran Aircraft Engines (“SAE”) to provide engine test services for the CFM LEAP-1A and -1B engines.
SIAEC will provide the engine test services at its engine test facility, which will be upgraded with the latest data acquisition and control system from Safran Test Cells, a leading supplier in the CFM LEAP engine testing market.
SIAEC currently has an existing engine maintenance services agreement with SAE to provide engine On-Site Support, Quick Turn and Boroscope Inspection services for the CFM LEAP-1A and -1B engines.
The addition of CFM LEAP-1A and -1B engine test capabilities and services will strengthen SIAEC’s comprehensive scope of maintenance, repair and overhaul (“MRO”) services that it provides to its original equipment manufacturer (OEM) partners and airline customers. It will enhance support for the engine MRO value chain and increase SIAEC’s engine services value- add within the engine MRO eco-system in Singapore.
Mr Ng Chin Hwee, SIAEC Chief Executive Officer, said, “We are pleased to deepen our partnership with SAE through this new agreement, which is a strong testament to our good working relationship over the years. The addition of the engine test capabilities for CFM LEAP- 1A and -1B engines is a step forward in the growth of our engine MRO services under our Engine Services Division (ESD), which was established earlier this year. Through ESD, SIAEC is well-poised to increase value to our OEM partners and airline customers, as well as enhance our integration across the engine MRO value chain.”
Mr Jean-Paul Alary, SAE Chief Executive Officer, said, “We are delighted to support SIAEC in the development of its capabilities for the LEAP engine. It will enhance the expertise that SIAEC is bringing since the LEAP’s entry into service in 2016 to better optimise our customer operations while reducing the environmental footprint.”
The transaction is not expected to have a material impact on the earnings per share or the net tangible assets per share of the SIAEC Group for the financial year ending 31 March 2022. None of the Directors and controlling shareholders of SIAEC has any interest, direct or indirect, in the transaction, other than through their shareholdings (if any) in SIAEC.