Hong Kong Aircraft Engineering Company Limited (“HAECO”, HKSE:00044) announced today that it has completed its previously announced acquisition of TIMCO Aviation Services, Inc. (“TIMCO”), creating one of the world’s leading providers of aircraft maintenance, repair, overhaul (MRO) services and aircraft interiors products and services.
“This is a truly exciting day for HAECO and TIMCO as our companies embark upon a new chapter of global growth,” said Augustus Tang, Chief Executive Officer of HAECO. He added, “TIMCO’s strong reputation for quality aircraft care and customer services fits well with the HAECO family of companies. We are looking forward to continuing to grow TIMCO’s capabilities and reach, especially in the delivery of aircraft interiors products and services.”
Kevin Carter, Chief Executive Officer of TIMCO, said, “The customers, employees and communities where TIMCO facilities are located have much to look forward to as we embark on our new relationship with HAECO. Our strategic combination will build upon both companies’ global customer reach, utilize best practices across a broader enterprise and elevate our commitment as responsible corporate citizens in the communities in which we operate.”
With the completion of the transaction, TIMCO will be a wholly-owned subsidiary of HAECO, creating one of the world’s leading airframe MRO service providers based on scope of services and products offered. HAECO and TIMCO together will provide customers with an enhanced range of capabilities and will be uniquely positioned to capitalise on significant growth opportunities, particularly in the aircraft interiors engineering and manufacturing market segments.
Source and Photo: PR Newswire