SIA Engineering (SGX:S59) and Safran Aircraft Engines agreed to form a joint venture in Singapore to provide maintenance, repair, and overhaul services for CFM LEAP engines, according to a Friday bourse filing.
Safran Aircraft Engines will own 51% of the venture, while SIA Engineering will hold the remaining 49%.
The partners plan to invest up to $118 million in the venture, which will service LEAP-1A and LEAP-1B engines and expand maintenance capacity in the region.
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