SIA Engineering Company (SIAEC) and Xiamen Iport Group (IPORT Group) have signed a framework agreement for SIAEC to explore investing in Arport Aircraft Maintenance & Engineering, Fujian (Arport AME), a subsidiary of IPORT Group providing line maintenance and ground services in airports in Fujian, China.
This follows the signing of a Memorandum of Understanding (MoU) between the two companies in September 2023 to explore MRO opportunities in Fujian, China. Since then, both parties have engaged in discussions to establish a structure to identify areas of collaboration, leading to the development of this framework agreement.
It now means both parties will progress towards the finalisation and signing of definitive agreements, subject to meeting regulatory requirements and obtaining necessary approvals.
IPORT Group owns and operates airports in Xiamen, Fuzhou, Wuyishan and Longyan, with Arport AME performing line maintenance and ground services at these four airports.
Leveraging SIAEC’s comprehensive MRO service offerings, certifications and maintenance capabilities and IPORT Group’s extensive infrastructure and resources in Fujian, both parties aim to grow Arport AME’s existing MRO business to include base maintenance and other services.
The firms have explained that at the moment no definitive or binding agreements have been entered into or reached by SIAEC in respect of the matters contemplated by the framework agreement, and there is no assurance or certainty that such agreements will be entered into or reached or that such matters will be proceeded with.
SIAEC claims it will make the necessary announcement(s) in relation to the potential collaboration as and when there are any material developments on the matter, including the signing of any definitive agreements.
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