SR Technics Switzerland is a leading maintenance, repair and overhaul (MRO) provider for mainly Airbus and Boeing aircraft, engines and components.
The MOU was arrived at after SIAEC and SR Technics Malaysia reviewed the synergies that the latter would bring to the former’s existing component repair and overhaul services.
SIAEC will commence its due diligence on SR Technics Malaysia. Following that, SIAEC and SR Technics Switzerland will enter into negotiations on the transaction.
The transaction is not expected to have a material impact on the net tangible assets (NTA) per share or earnings per share (EPS) of the SIAEC group in FY2020/2021.
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Shares in SIAEC closed 9 cents higher or 4.4% up at $2.13 on March 1.
