Eaton and SIAEC Announce Key Milestones for Joint Venture

• 26 Sep 2024
• TM Team
• 0 Comments

Intelligent power management company Eaton and SIA Engineering Company Limited (SIAEC) unveiled the logo for their joint venture, Eaton Aerospace Component Services Asia Sdn. Bhd. (EAS), at MRO Asia-Pacific today. Chin Yau Seng, chief executive officer of SIAEC, and Desmond Goh, managing director, Asia-Pacific, for Eaton’s Aerospace Group, representatives from the Malaysian Investment Development Authority (MIDA), as well as industry partners and stakeholders, attended the event to commemorate the milestone.

The new logo represents the branding of the joint venture as “Eaton Aero Services”, and signifies the partnership of two industry leaders dedicated to providing reliable, customer-focused solutions to clients in the Asia-Pacific region.

This logo unveiling follows the groundbreaking of EAS’s new facility in Shah Alam, Selangor, Malaysia, on 23 September 2024.

EAS will specialize in inspecting, testing, repairing, maintaining, modifying and overhauling Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems.

EAS is scheduled to be fully operational within the next 18 months and is expected to significantly contribute to the local economy by fostering industry growth and strengthening the region's position as a hub for maintenance, repair, and overhaul (MRO) services.

Datuk Sikh Shamsul, chief executive officer of the Malaysian Investment Development Authority (MIDA), applauded this partnership as an important landmark for Malaysia's aerospace industry.

"The unveiling of Eaton Aero Services’ logo and the groundbreaking of its new facility in Shah Alam marks a major milestone in our nation's aerospace development," he said. "This joint venture between Eaton and SIAEC is a ringing endorsement of Malaysia's aerospace ecosystem, skilled workforce, and business-friendly environment. It is a testament to the Malaysia Aerospace Industry Blueprint 2030's strategic objectives and a vote of confidence in our country's ability to attract foreign investment.”

“Our joint venture with SIAEC will offer best-in-class MRO services with the highest standards in quality and efficiency, and local support, to customers in Asia-Pacific region,” said Desmond Goh, managing director, Asia-Pacific, for Eaton’s Aerospace Group. “This marks the start of a new journey for both companies, joining hands to expand the MRO services to customers in the Asia-Pacific region.”

Dr. Bernd Riggers, senior vice president, Component Services, SIAEC said, “The quick progress made so far in this joint venture is a testament to our mutual commitment to exceed our customers’ expectations with top-quality services and efficiency. This collaboration marks a crucial advancement in expanding our expertise in aviation component repairs, enhancing our service portfolio and driving regional growth.”

The foregoing events are not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC Group for the financial year ending 31 March 2025. None of the directors and controlling shareholders of SIAEC have any interest, direct or indirect, in the foregoing events other than through their shareholdings (if any) in SIAEC.