Eaton and SIAEC Announce Key Milestones for Joint Venture
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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.
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