HAECO completes TIMCO acquisition

Singapore
Source:
This story is sourced from Pro
See more Pro news »

Hong Kong Aircraft Engineering Company (HAECO) completed the acquisition of TIMCO Aviation Services on 6 February.

HAECO chief executive Augustus Tang says that with the acquisition now completed, both companies are now able to embark on a new chapter of global growth.

“TIMCO’s strong reputation for quality aircraft care and customer services fits well with the HAECO family of companies. We are looking forward to continuing to grow TIMCO’s capabilities and reach, especially in the delivery of aircraft interiors products and services,” he adds.

HAECO announced in October 2013 its intention to purchase TIMCO in a deal valued at approximately $389 million, subject to final adjustments. Neither company disclosed the closing value of the deal.