SIA Engineering signs MOU to acquire SR Technics Malaysia

SIA Engineering Company (SIAEC) has signed a Memorandum of Understanding (MOU) with SR Technics Switzerland (SRT) relating to the potential acquisition (in part or whole) of SRT Malaysia by SIAEC.

SRT Malaysia, located in Selangor, Malaysia, is a subsidiary of SRT, incorporated in January 2013 to provide component repair, testing and overhaul services with a focus on Airbus A320, A330, A340 and Boeing 737NG aircraft in the Asia-Pacific region and beyond.

SRT is a leading independent maintenance, repair and overhaul (MRO) service provider for mainly Airbus and Boeing aircraft, engines and components, along with engineering services and training. SRT has a diversified global customer base and a long history of MRO experience, having started out as the maintenance and engineering section of Swissair, previously Switzerland’s national carrier.

The MOU was signed following a review of the synergies that SRT Malaysia would bring to SIAEC’s existing component repair and overhaul services and fleet management programs.

Pursuant to the MOU, SIAEC will commence due diligence on SRT Malaysia, and SIAEC and SRT will subsequently enter into negotiations on the terms of the transaction, with the objective of finalizing and entering into the definitive agreements in respect of the transaction.

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