SIA Engineering Co Signs JV With NYSE-Listed Eaton

The Edge Singapore2023-07-11

SIA Engineering Company (SIAEC) and NYSE-listed Eaton have signed an agreement to form a component maintenance, repair and overhaul joint venture (JV) on July 11.SIAEC will hold a 49% stake in the JV ...

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This JV will be an important platform to build capabilities on new-generation aircraft and will complement our existing portfolio of engine and component JVs with other leading original equipment manufacturers,” says Ng Chin Hwee, SIAEC’s CEO.“This new venture will combine SIAEC’s experience and well-respected position in the region with Eaton’s global reach and existing customer base,” says Nanda Kumar, president, aerospace group, Eaton. “We look forward to building our regional presence to serve customers throughout the product lifecycle in this growing market.”The transaction is not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC group for the FY2023/2024 ending March 31, 2024.Shares in SIAEC closed at $2.46 on July 10.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":8,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1118874682"}