The JV, which has an initial issued and paid-up share capital of US$16 million ($21.5 million), will inspect, test, repair, maintain, modify and overhaul Eaton-manufactured aircraft components installed on airframe and engine fuel systems and hydraulics systems.
SIA Engineering Company (SIAEC) and NYSE-listed Eaton have signed an agreement to form a component maintenance, repair and overhaul joint venture (JV) on July 11.
SIAEC will hold a 49% stake in the JV while Eaton will hold the remaining 51%.
