SIAEC and Stratasys will establish an additive manufacturing service centre
SIA Engineering Company Limited (“SIAEC”) and Stratasys Ltd will open a Singapore-based additive manufacturing (AM) service centre in order to provide 3D printed parts for use in commercial aviation. The announcement of the signature of this joint venture follows the Memorandum of Understanding signed and announced on 5 April 2017.
SIAEC is a provider of aircraft maintenance, repair and overhaul (“MRO”) services in Asia-Pacific. As for Stratasys, the company provides additive manufacturing services worldwide.
The services of the AM joint venture
“With increasing adoption of additive manufacturing technology in the aerospace industry, this joint venture will be able to access growing demand for additive manufacturing services. 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,” said Mr Png Kim Chiang, Chief Executive Officer of SIAEC.
The offering of the joint venture will include design, engineering, certification support and part production services to customers worldwide including airlines, maintenance, repair and overhaul (“MRO”) providers and original equipment manufacturers (“OEMs”). This Centre will leverage on additive manufacturing technology to produce plastic aircraft cabin interior parts as well as tooling for MRO providers.
Mr Ilan Levin, Chief Executive Officer of Stratasys, said, “By drawing on industry knowledge at SIAEC, we have tremendous opportunity to deliver unique solutions in this high requirement and highly regulated segment. The joint venture will benefit from Stratasys’ near 30 years of additive technology, materials and application development, enabling it to stay at the forefront of its product offerings.”
The transaction is not expected to have a material impact on the financial performance of SIAEC or Stratasys in FY2017/18. None of the Directors of SIAEC or Stratasys has any interest, direct or indirect, in the transaction.
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