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SIA Engineering divests entire 60% shareholding in joint venture for US$90,000

Bryan Wu
·1-min read

Additive Flight Solutions has ceased to be a subsidiary of SIAEC as of Feb 8.

SIA Engineering Company (SIAEC) S59 has announced the divestment of its entire 60% shareholding in Additive Flight Solutions (AFS) for US$90,000 ($121,250).

AFS is a joint venture company based in Singapore between SIAEC and STRATASYS. Its principal activities include manufacturing of aircraft cabin interior parts and toolings for the aviation MRO sector utilising additive manufacturing (3D printing) technology.

On Feb 8, the company announced that it had entered into an agreement with STRATASYS, which already holds 40% of AFS shares, for the sale of the remaining 60% shares in AFS

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The sale has been completed and AFS has ceased to be a subsidiary of SIAEC.

As of Feb 8, SIAEC has 23 subsidiaries and joint ventures with original equipment manufacturers and strategic partners in Singapore, Hong Kong, Indonesia, Japan, Malaysia, Philippines, the US and Vietnam.

Shares in SIAEC closed unchanged at $2.29 on Feb 8.

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