02 April 2001
02 April 2001
The BFGoodrich Company signed an agreement with SIA Engineering Company (SIAEC) finalizing a strategic alliance to repair and overhaul aircraft nacelles, thrust reversers, and pylons.
Under the terms of the joint venture agreement, SIAEC acquired 30% of the shares of the BFGoodrich Aerostructures & Aviation Services Group's wholly owned subsidiary, Rohr Aero Services-Asia (RASA). SIAEC also has an option to acquire a further 10% equity share of RASA, subject to certain conditions.
RASA was incorporated in Singapore in 1995 and operates a 60,000-square-foot maintenance, repair, and overhaul facility in Singapore's Loyang aerospace hub. RASA performs repair work for over 30 airlines in the Asia-Pacific region. This customer base includes such carriers as Singapore Airlines, Japan Airlines, and Cathay Pacific Airways. RASA has the capability to repair and overhaul nacelle, pylon, and thrust reverser components for virtually all Airbus Industrie and Boeing aircraft.
The joint venture agreement was signed today in Singapore by SIAEC President and Chief Operating Officer Mervyn Sirisena and Aerostructures & Aviation Services Group President Bud Wetzler. Goodrich's Aerostructures Aftermarket Services Vice President and General Manager Bob Gustafson also represented BFGoodrich at the signing ceremony. ""This joint venture with SIA Engineering Company allows us to enter into a strategically important alliance with one of the Asia Pacific region's largest providers of MRO services,"" said Wetzler. ""This solidifies our position as the premier nacelle/thrust reverser MRO center in the Pacific Rim.""
""RASA's aerostructures repair and overhaul facility is a key addition to our 'Total Support' capability, which will further our ability to provide customers with comprehensive and integrated services,"" said SIAEC President & Chief Operating Officer Mervyn Sirisena. ""This partnership with Goodrich is our 15th joint venture and is in keeping with SIA Engineering Company's strategy of allying ourselves with reputable OEMs who are at the forefront of technology in their respective areas of expertise. We are proud to partner with Goodrich, which is renowned for its technical excellence and quality, and are confident that RASA will become a leader in repair and overhaul of aircraft composite components in the Asia Pacific Region.""
Under the terms of the joint venture, the Aerostructures & Aviation Services Group will retain management control of RASA with its current leadership team, headed by General Manager Ken Tan. A joint Board of Directors will be created to manage overall oversight of the facility. This Board will consist of seven directors - five appointed by BFGoodrich and two by SIAEC. SIA Engineering Company, a listed subsidiary of Singapore Airlines, is a provider of comprehensive aircraft maintenance, repair, and overhaul services. It provides line maintenance and technical ground handling, as well as airframe and component repair and overhaul services, for Singapore Airlines and more than 70 other airlines. SIAEC also offers a comprehensive range of engine, aircraft, and engine component repair and overhaul services through its 15 joint ventures with leading Original Equipment Manufacturers.
With 2000 sales of $4.4 billion, The BFGoodrich Company is a leading worldwide supplier of aerospace components, systems and services, as well as sealing and compressor systems and other engineered industrial products. BFGoodrich is ranked by Fortune magazine as one of the most admired aerospace companies and is included on Forbes magazine's Platinum List of America's best big companies. The company has its headquarters in Charlotte, North Carolina, and employs 23,000 people worldwide. The company's Aerostructures & Aviation Services Group designs, integrates, manufactures, sells, and supports aircraft engine nacelle and pylon systems for large commercial aircraft. The group also provides a broad range of other specialized aerostructures for commercial, military, and space applications.
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