BRIEF-SIA Engineering Company And Eaton To Form Component MRO Joint Venture In Malaysia
July 11 (Reuters) - SIA Engineering Company Ltd :
* EATON AND SIA ENGINEERING COMPANY TO FORM COMPONENT MRO JOINT VENTURE IN MALAYSIA
* EATON WILL HOLD A 51% EQUITY STAKE IN JV, WITH SIAEC HOLDING REMAINING 49%
* SIGNED AN AGREEMENT WITH EATON TO FORM COMPONENT MAINTENANCE, REPAIR AND OVERHAUL ("MRO") JOINT VENTURE
* INITIAL ISSUED AND PAID-UP SHARE CAPITAL OF JV WILL BE USD16 MILLION
* EATON AND SIAEC WILL EACH SUBSCRIBE TO SHARES IN CASH AND IN PROPORTION TO THEIR CORRESPONDING EQUITY STAKE
* JV WILL INSPECT EATON-MANUFACTURED AIRCRAFT COMPONENTS INSTALLED ON AIRFRAME AND ENGINE FUEL SYSTEMS
* TRANSACTION NOT EXPECTED TO HAVE MATERIAL IMPACT ON EPS OF SIAEC GROUP FOR FY ENDING 31 MARCH 2024 Source text for Eikon: Further company coverage: