Brief: SIA Engineering Company And Eaton To Form Component MRO Joint Venture In Malaysia

SIA Engineering

11/07/2023 01:03

July 11 (Reuters) - SIA Engineering Company Ltd
 SIAE.SI :
    * EATON AND SIA ENGINEERING COMPANY TO FORM COMPONENT MRO
JOINT
VENTURE IN MALAYSIA
    * EATON WILL HOLD A 51% EQUITY STAKE IN JV, WITH SIAEC
HOLDING
REMAINING 49%
    * SIGNED AN AGREEMENT WITH EATON TO FORM COMPONENT
MAINTENANCE,
REPAIR AND OVERHAUL ("MRO") JOINT VENTURE
    * INITIAL ISSUED AND PAID-UP SHARE CAPITAL OF JV WILL BE
USD16
MILLION
    * EATON AND SIAEC WILL EACH SUBSCRIBE TO SHARES IN CASH AND
IN
PROPORTION TO THEIR CORRESPONDING EQUITY STAKE
    * JV WILL INSPECT EATON-MANUFACTURED AIRCRAFT COMPONENTS
INSTALLED
ON AIRFRAME AND ENGINE FUEL SYSTEMS
    * TRANSACTION NOT EXPECTED TO HAVE MATERIAL IMPACT ON EPS OF
SIAEC
GROUP FOR FY ENDING 31 MARCH 2024

Source text for Eikon:  ID:nSN1m56H7 
Further company coverage:  SIAE.SI 

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