Green Light For STATCO Cash Injection

STA Engines, a subsidiary of Singapore-based MRO ST Aerospace, has finalised its $20.8m investment into its joint venture with Xiamen Aviation Industry.

STA Engines, a subsidiary of Singapore-based MRO ST Aerospace, has finalised its $20.8m investment into its joint venture with Xiamen Aviation Industry.

First announced in September, the investment into STATCO (ST Aerospace Technologies (Xiamen)) has been greenlit following approval by the Chinese authorities.

STA Engines has yet to confirm how the cash injection will be used.

Launched in October 2011, STATCO offers MRO services on CFM56-7B engines from facilities at Gaoqi International Airport. 

TAGS: Asia
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