SIA Engineering Company (SIAEC) and Paris stock exchange-listed advanced technologies company, Thales, have signed a legally non-binding memorandum of understanding (MOU) to explore business development and collaboration opportunities in the Asia-Pacific (APAC) region.
The MOU looks to evaluate the feasibility and establish a framework to collaborate in areas such as in the maintenance, repair and overhaul (MRO) of components, in cooperation with Thales’ MRO facilities, including its future facility in India, as well as in repair services under SIAEC’s Inventory Technical Management (ITM) programmes and network of component shops.
Thales has established its presence in Singapore since 1973, initially providing support for aerospace-related endeavours in the APAC region, and now actively participates in key sectors such as aerospace, defence and security, as well as in digital identity and security.
On this, Bernd Riggers, senior vice president component services of SIAEC, says: “The potential collaboration with Thales could expand SIAEC’s component repair capabilities, network and service offerings to our airline customers for Thales’ components. This complements SIAEC’s overall strategic plan to grow our component repair and overhaul services network.”
“This MOU is a first step in seeing how SIAEC and Thales can bring their complementary capabilities and network to help give airlines a leading edge,” adds Thomas Got, vice president, aviation global services and avionics services worldwide business.
Shares in SIA Engineering Company closed one cent lower or 0.43% down at $2.33 on Feb 20.
