SIA Engineering Company S59 has signed a legally non-binding memorandum of understanding (MOU) with Xiamen Iport Group (Iport Group). Iport Group owns and operates airports in Xiamen, Fuzhou, Wuyishan and Longyan in China.
The objective of the MOU is to establish a framework for both SIA Engineering Company and Xiamen Iport Group to work together and identify potential areas of collaboration.
Under the MOU, both parties will explore maintenance, repair and overhaul (MRO) opportunities in Fujian, China. The MOU will leverage SIA Engineering Company’s comprehensive MRO service offerings, certifications and maintenance capabilities and Iport Group’s extensive infrastructure and resources in Fujian.
No definitive or binding agreements have been entered into with SIA Engineering Company yet.
As at 2.28pm, shares in SIA Engineering Company are trading 4 cents lower or 1.67% down at $2.36.
