Eaton and SIAEC Establish Joint Venture, Eaton Aerospace Component Services Asia

This joint venture (“JV”) follows an earlier agreement signed by SIAEC and Eaton on 11 July 2023 (Singapore time) on the formation of a component maintenance, repair and overhaul (“MRO”) JV, that will inspect, test, repair, maintain, modify and overhaul Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulic systems.

Picture of the agreement signing in 11 July 2023. Mr Nanda Kumar, President of Aerospace Group, Eaton (left) and Mr Ng Chin Hwee, Chief Executive Officer of SIA Engineering Company (right) at the agreement signing event in Seattle, United States of America. Photo: SIAEC

SIAEC will hold a 49% equity stake in the JV with Eaton holding the remaining 51%. As mentioned in the latest release, the initial issued share capital of RM470 (equivalent of USD100) will also eventually be raised to approximately RM75 million (equivalent of USD16 million).

Based in Malaysia, the new JV will capitalize on Eaton and SIAEC’s combined knowledge and experience to cater to customers in the Asia Pacific region. With this new addition, SIAEC currently has an extensive portfolio of 24 subsidiaries and joint ventures with major original equipment manufacturers (OEMs) and strategic partners, across eight countries.