SIA Engineering and French company Safran Electronics are forming a joint-venture in Singapore for the maintenance, repair and overhaul of avionics equipment.
"Under the agreement SIA Engineering will hold a 49% equity shareholding in the joint venture with the remaining 51% owned by" Sagem's Safran Electronics, SIA and Sagem say in a joint statement.
"The Singapore-based joint venture will be a dedicated centre of excellence and original equipment manufacturer warranty repair centre for avionics components in Asia," it says.
"This is the second partnership between SIA Engineering and Safran [group]; the first one was Messier Services Asia, a Safran Group subsidiary specialising in landing gear maintenance, repair and overhaul," it adds.
SIA Engineering CEO, William Tan says in the statement that the joint-ventre means SIA Engineering can tap Sagem's knowledge of the latest technology in avionics computers for new aircraft such as the Airbus A350, Airbus A380 and Boeing 787.
This will help SIA Engineering to be "at the leading edge of aircraft technology."
He adds, the Messier Services Asia joint venture has increased its revenue by "two and a half fold since 2000."
Source: Air Transport Intelligence news