SIA Engineering Company to form joint venture with GE Aviation

Mainboard-listed SIA Engineering Company (SIAEC) and GE Aviation (GE) will be signing a joint venture agreement to form an engine overhaul joint venture based in Singapore. This follows the first announcement of the proposed partnership on 20 June 2017. Under the agreement, GE will hold a 51% equity stake in the joint venture, with SIAEC holding the remaining 49%. The agreement is subject to regulatory approvals being obtained in the relevant jurisdictions. The GE90 engine exclusively powers the Boeing 777-300ER and 777-200LR, and the GE9X engine is the sole engine selection for the Boeing 777X aircraft. The joint venture will leverage best practices from GE’s “Brilliant Factory” concepts, combining advanced technologies and lean practices with digitization and data analytics to enhance productivity.