SIAEC signs deal with Eaton to establish MRO Joint Venture in Malaysia

SIA Engineering Company (SIAEC) has inked a deal with New York-listed Eaton to establish a component maintenance, repair and overhaul (MRO) joint venture (JV) company in Malaysia. SIAEC will hold a 49% stake in the Joint Venture while Eaton will hold the remaining 51%. The JV will have an initial issued and paid-up share capital of $16 million and will inspect, test, repair, maintain, modify and overhaul Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems. Eaton and SIAEC will each subscribe to the shares in cash and in proportion to their corresponding equity stake.  The