SIA Engineering to Take 30% Stake in Fujian MRO Joint Venture

SIA Engineering Co ( (SG:S59) ) has issued an update.

SIA Engineering Company, a leading Asia-Pacific aircraft maintenance, repair and overhaul provider, supports over 80 international carriers and aerospace manufacturers across a broad network of airports and joint ventures. Its extensive regulatory approvals and partnerships deepen its capabilities in line, base and component maintenance on major commercial aircraft types.

SIA Engineering has secured a public tender to acquire a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian), a subsidiary of Xiamen Iport Group, for RMB129 million via its SIAEC Global unit. The planned joint venture will expand SIAEC’s line and ground services to multiple airports in Fujian and add base maintenance in Xiamen, strengthening its presence in China’s growing MRO market while having no material near-term impact on group earnings or net tangible assets.

The most recent analyst rating on (SG:S59) stock is a Buy with a S$4.00 price target. To see the full list of analyst forecasts on SIA Engineering Co stock, see the SG:S59 Stock Forecast page.

More about SIA Engineering Co

SIA Engineering Company is a major Asia-Pacific provider of aircraft maintenance, repair and overhaul services, serving more than 80 international airlines and aerospace manufacturers. The group offers line maintenance at over 30 airports in nine countries, along with airframe, engine and component work, supported by 25 subsidiaries and joint ventures and approvals from 27 aviation regulators worldwide.

Average Trading Volume: 860,893

Technical Sentiment Signal: Buy

Current Market Cap: S$3.55B

For detailed information about S59 stock, go to TipRanks’ Stock Analysis page.