SIA Engineering Company Limited (SIAEC) and Eaton have announced their partnership to establish a joint venture (JV) for component maintenance, repair, and overhaul (MRO) services. The JV aims to provide comprehensive inspection, testing, repair, maintenance, modification, and overhaul services for Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems. This collaboration will strengthen the presence and service capacity of Eaton and SIAEC customers in the Asia Pacific region.
According to the agreement, Eaton will hold a 51% equity stake in the JV, while SIAEC will hold the remaining 49%. The initial issued and paid-up share capital for the JV will amount to USD 16 million. Both companies will subscribe to the shares in cash proportionate to their equity stake. However, the agreement and the services to be provided are subject to regulatory approvals.