SIA Engineering Company and Moog to form joint venture

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Dec 26, 2016: SIA Engineering Company (SIAEC) has entered into a JV agreement with Moog to establish a joint venture to provide maintenance, repair and overhaul services for Moog’s products, which include components on flight control systems for new-generation aircraft, such as the Boeing 787 and the Airbus A350.

The agreement is subject to regulatory approvals being obtained in the relevant jurisdictions.

Under the agreement, Moog will have a 51 percent equity stake in the joint venture, with SIAEC holding the remaining 49 percent.

The Singapore-based joint venture combines the expertise of Moog and SIAEC to provide component repair services to customers in Asia Pacific and beyond.

Moog will develop the joint venture as its Centre of Excellence in Asia Pacific for Moog’s products on the Boeing 787 and the Airbus A350 aircraft.

Png Kim Chiang, chief executive officer of SIAEC, said, “Our partnership with Moog, a world leader in flight control systems, will strengthen SIAEC’s capabilities on new-generation aircraft, adding to our comprehensive suite of services out of Singapore."

Mark Trabert, president, Moog’s Aircraft Group, said, “The venture with SIAEC is an important part of our support strategy and will further enhance our world class support for airlines in this region.”

The joint venture is not expected to have a material impact on SIAEC’s financial performance in FY2016-17.