SIA Engineering Company (SIAEC) and Ireland-based power management company Eaton have unveiled the logo for their joint venture (JV), Eaton Aerospace Component Services (EAS).
This logo unveiling follows the groundbreaking of EAS’s new facility in Shah Alam, Selangor, Malaysia, on Sept 23. EAS will specialise in inspecting, testing, repairing, maintaining, modifying and overhauling Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems.
The JV is scheduled to be fully operational within the next 18 months and is expected to significantly contribute to the local economy by fostering industry growth and strengthening the region’s position as a hub for maintenance, repair, and overhaul (MRO) services.
Chin Yau Seng, chief executive officer (CEO) of SIAEC, and Desmond Goh, managing director, Asia-Pacific, Eaton Aerospace Group, as well as representatives from the Malaysian Investment Development Authority (MIDA) attended the event to commemorate the milestone with industry partners and stakeholders.
Bernd Riggers, senior vice president, Component Services, SIAEC says: “The quick progress made so far in this JV is a testament to our mutual commitment to exceed our customers’ expectations with top-quality services and efficiency. This collaboration marks a crucial advancement in expanding our expertise in aviation component repairs, enhancing our service portfolio and driving regional growth.”
Eaton’s Goh adds: “This marks the start of a new journey for both companies, joining hands to expand the MRO services to customers in the Asia-Pacific region.”
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“This joint venture between Eaton and SIAEC is a ringing endorsement of Malaysia's aerospace ecosystem, skilled workforce, and business-friendly environment. It is a testament to the Malaysia Aerospace Industry Blueprint 2030’s strategic objectives and a vote of confidence in our country's ability to attract foreign investment,” concludes Sikh Shamsul, CEO, MIDA.
The JV is not expected to have a material impact on SIAEC’s net tangible assets per share or its earnings per share for the financial year ending March 31, 2025.
As at 3.33 pm, shares in SIAEC are trading 4 cents lower or 1.65% down at $2.38.
