SAESLSingapore Aero Engine Services Limited
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As part of these new agreements, and to further simplify our joint venture structures, Rolls-Royce and SIAEC intend to take the opportunity to amalgamate the business and operations of SAESL and IECO into a single entity, enabling them to compete more effectively for global component repair business.
HAESL and SAESL are in the business of maintenance, repair and overhaul ( MRO ) of Rolls- Royce civil large aero engines and components, operating out of Hong Kong and Singapore respectively.
Currently, SAESL is owned 50% by SIAEC, 30% by RRS and 20% by HAESL, and HAESL is owned 45% by HAECO, 45% by RROH and 10% by SIAEC.
Commenting on the Divestments, Mr Png Kim Chiang, Chief Executive Officer of SIAEC, said: The restructuring of the shareholdings of SAESL and HAESL will result in these entities being owned by SIAEC and HAECO respectively, jointly and in partnership with Rolls-Royce.
HAESL is currently a joint venture with Hong Kong Aircraft Engineering Company Limited and SIA Engineering Company Limited; SAESL is currently a joint venture with SIA Engineering Company Limited and Hong Kong Aero Engine Services Limited; and N3 a joint venture with Lufthansa Technik AG.
These new agreements will also simplify the shareholding structure and management of HAESL and SAESL with each becoming 50/50 joint ventures with two shareholders (from three today).
As part of the newly forged engineering partnership, Tata Technologies will offer a dedicated fleet of experts having proficiencies in the designing of numerous ground support and ground handling equipment, process engineering and technology optimization for the Rolls-Royce Trent engine types, overhauling of which will be carried out at SAESL.