<article>ST Engineering has divested a 5 per cent stake in a China JV while SIAC has strengthened its business lines with two new joint ventures (JVs).</article>

ST Engineering has divested a 5 per cent stake in a China JV while SIAC has strengthened its business lines with two new joint ventures (JVs).
<h3>ST Engineering divests 5% stake in China JV to Japan Airlines</h3>
<a href="http://dealstreetasia.com/tag/st-engineering" target="_blank" rel="noopener">Singapore Technologies Engineering (ST Engineering)</a> announced in a stock exchange filing that it has divested its 5 per cent stake in ST Aerospace (Guangzhou) Aviation Services Company, a joint venture (JV) with Guangdong Airport Authority, to Japan Airlines for a consideration of $7 million.
Established in 2014, STA Guangzhou is an aircraft maintenance, repair and overhaul (MRO) station located at Guangzhou Baiyun International Airport in China.
The consideration was arrived at while accounting for STA Guangzhou&#8217;s current performance, net asset value (NAV) and growth potential in Guangzhou&#8217;s Baiyun International Airport.
Deal completion will see ST Aerospace and Guangdong Airport Authority each own 44 per cent and 51 per cent respectively in STA Guangzhou; Japan Airlines will become a strategic partner of the JV with 5 per cent.
&#8220;Given Japan Airlines&#8217; strong reputation in quality and standards for both its services and demands placed on MRO providers, the new partnership will facilitate cross-learning and enable STA Guangzhou to enhance its own standing in safety and quality, and be better positioned for greater growth,&#8221; said ST Engineering.
<h3>SIAEC forms JVs with Stratasys &amp; GE Aviation</h3>
<a href="http://dealstreetasia.com/tag/siaec" target="_blank" rel="noopener">SIA Engineering Company (SIAEC)</a> has disclosed it is forming JVs with Nasdaq-listed Stratasys to establish an additive manufacturing service centre, which will provide 3D printed parts for use in commercial aviation, and with GE Aviation to form an engine overhaul company.
Stratasys is a 3D printing and additive manufacturing solutions company. The JV will see SIAEC own 60 per cent, with the remainder held by Stratasys. Based in Singapore, the additive manufacturing JV will offer design, engineering, certification support and part production to customers worldwide including airlines, maintenance, repair and overhaul (MRO) providers and original equipment manufacturers (OEM).
This joint venture will leverage on additive manufacturing technology to produce plastic aircraft cabin interior parts as well as tooling for MRO providers.
Png Kim Chiang, CEO of SIAEC says, “We look forward to partner with Stratasys to provide our customers with new service offerings as we continue to enhance our suite of MRO services.”
The JV with GE Aviation will see the formation of an engine overhaul company based in Singapore and will be 51 per cent owned by GE and 49 per cent by SIAEC. It will combine GE Aviation&#8217;s design, engineering and innovation strengths with SIAEC&#8217;s expertise and delivery in maintenance, repair and overhaul (MRO) services.
It will leverage GE&#8217;s &#8220;Brilliant Factory&#8221; concepts, and use robotics, digitalisation and data analytics to enhance productivity and broaden SIAEC&#8217;s capabilities through leveraging on GE&#8217;s technical know-how and SIAEC&#8217;s maintenance, repair and overhaul (MRO) experience.
Separately, GE Aviation said it will be investing S$42 million in a facility at Seletar Aerospace Park to manufacture high-pressure compressor vanes for the GE9X engine, which powers the Boeing 777-300ER and 777-200LR, and is set to power the Boeing 777X aircraft, which is slated to enter into service in 2020.
Also Read:
<a href="https://www.dealstreetasia.com/stories/sg-dealbook-uob-divests-stake-in-marco-polo-fundmylife-acquisition-comfordelgro-investment-91857/">SG Dealbook: UOB sells stake in Marco Polo; fundMyLife deal; ComfortDelGro investment</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/vietnam-sg-fund-commits-500k-startups-fe-credit-loan-91001/">Vietnam Dealbook: SG fund commits $500k to startups, FE CREDIT gets $50m loan</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-based-ademco-acquires-60-vietnam-security-solution-provider-tnt-92161/">Singapore-based Ademco acquires 60% in Vietnam security solution provider TNT</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapores-ezion-finalizes-refinancing-1-5bn-package-secured-lenders-92136/">Singapore’s Ezion bags $1.5b refinancing package from secured lenders</a>

ST Engineering has divested its 5% stake in ST Aerospace (Guangzhou), a JV with Guangdong Airport Authority, to Japan Airlines for $7 million.

SG Dealbook: ST Engineering divests stake in China JV; SIA unit announces JVs

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

SG Dealbook: ST Engineering divests stake in China JV; SIA unit announces JVs

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief