MYTECHNIC BUOYED BY CHINESE AND US INVESTMENT

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By admin November 8, 2010 09:59

MYTECHNIC BUOYED BY CHINESE AND US INVESTMENT

Chinese diversified services company, HNA Group Company (HNA) and New York-based Bravia Capital, has signed an agreement to acquire a stake in Turkish MRO centre myTECHNIC.

Opened in 2008, myTECHNIC is an EASA-licensed, lean Aircraft MRO centre, located in Sabiha Gökçen International Airport (SAW) on the Asian side of Istanbul. As the first Lean Greenfield MRO in the world and first “Green Company” in Turkey, the nearly 650,000-square-foot facility includes 166,000 square feet of hangar bay; 267,000 square feet of shops, office area and storage area; and 65,000 square feet of engine shops. The facility’s innovative lean design contains three stories with no fixed service bays, which provides maximum flexibility for capacity planning and scheduling.

Istanbul’s Sabiha Gökçen International airport has an annual passenger capacity exceeding 25 million and is an ideal based for an MRO facility. The company estimated myTECHNIC has a potential market of 5,200 aircraft from nearly 500 customers.

Jianping Dang, president of GCAT (Grand China Aviation Technik), says: “HNA Group is a worldwide leader in aviation, and myTECHNIC is representative of our strategy to invest in global transportation hubs with the highest growth potential.  In addition, we anticipate being able to generate significant synergies between myTECHNIC and HNA’s aircraft and engine maintenance businesses.”

Bharat Bhisé, CEO of Bravia Capital says: “Today’s news is another exciting development in our strategy to harness the growth potential of the transportation sector in an era of continuous globalization. Our investment in myTECHNIC follows a string of successful shipping and aviation acquisitions over the past twelve months, and reinforces our position as a leader in transportation investment worldwide… myTECHNIC is positioned for extraordinary growth, and is also one of the world’s most innovative aviation-related companies with regard to efficiency and sustainability.  We have ambitious growth plans for the company and look forward to establishing a significant footprint in the region.”

Daglar Cizmeci, CEO of myTechnic says: “We are honored to be a part of HNA’s strategic initiative into the European, MENA and CIS regions. We believe that myTECHNIC’s ability to provide low-cost, customer-centric services will help HNA in establishing a permanent presence in our region. Our aim to provide world-class aircraft MRO services in the region is now supported by HNA and its vision to bring aviation MRO service excellence closer to the world’s fastest growing aviation markets. We are also proud in facilitating the opportunity for all of our employees and stakeholders in becoming a sustainable part of an ever-growing aviation supply-chain market. Lastly, both the recently reinforced Chinese-Turkish economic relations and Turkish Transportation Ministry’s MRO Hub policy will be supported by this partnership.”

admin
By admin November 8, 2010 09:59
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