ST Aerospace Liquidates MAeS JV

ST Aerospace has confirmed the liquidation of Madrid Aerospace Services (MAeS), its 50-50 joint venture with Iberia Maintenance.

ST Aerospace has confirmed the liquidation of Madrid Aerospace Services (MAeS), its 50-50 joint venture with Iberia Maintenance.

The aerospace arm of ST Engineering confirmed the move on Monday (September 5), and said it was part of an ongoing review into its landing gear strategy to “streamline capabilities and optimise resources within the aerospace sector”.

Madrid-based MAeS specialises in the repair and overhaul of landing gear systems and components.

ST Aerospace said it didn’t expect the move to have any material impact on the consolidated net tangible assets of its ST Engineering parent company during the current financial year.

 

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