SIA Engineering Company and Safran sign MOU to collaborate in Data Analytics
SINGAPORE, February 6, 2018 - Mainboard-listed SIA Engineering Company Limited ("SIAEC") today announced the signing of a Memorandum of Understanding ("MOU") with Safran to collaborate in the field of data analytics.
Under the MOU, both SIAEC and Safran will explore collaborating in the areas of research and development of software for predictive maintenance, to be used in the aviation industry. The deployment of advanced predictive software during aircraft operations will improve aircraft maintenance planning, and reduce unscheduled disruptions to aircraft revenue service.
Through this collaboration, both parties will be able to develop innovative aircraft maintenance solutions for their customers worldwide. In this partnership, Safran will provide its expertise in developing and deploying software and services, while SIAEC will contribute its extensive engineering and maintenance, repair and overhaul (MRO) experience.
The MOU is not expected to have a material impact on the financial performance of SIAEC in FY2017/18. None of the Directors of SIAEC has any interest, direct or indirect, in the MOU.
About SIA Engineering Company
(Company Registration No. 198201025C)
SIA Engineering Company ("SIAEC") is a major provider of aircraft maintenance, repair and overhaul ("MRO") services in Asia-Pacific. SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers. It provides line maintenance services at 37 airports in 8 countries, as well as airframe and component services on some of the most advanced and widely used commercial aircraft in the world. Apart from MRO services, SIAEC also offers a comprehensive and integrated suite of solutions under its fleet management services.
The 25 ventures with original equipment manufacturers and strategic partners in Singapore, Australia, Hong Kong, Indonesia, Japan, Philippines, United States and Vietnam increase the depth and breadth of the Company's service offerings. SIAEC has approvals from 26 national aviation regulatory authorities.
Safran is an international high-technology group and tier-1 supplier of systems and equipment in the Aerospace and Defense markets. Operating worldwide, Safran has nearly 58,000 employees and generated sales of 15.8 billion euros in 2016. Working alone or in partnership, Safran holds world or European leadership positions in its core markets. Safran undertakes Research & Development programs to meet fast-changing market requirements, with total R&D expenditures of 1.7 billion euros in 2016. Safran is listed on the Euronext Paris stock exchange, and its share is part of the CAC 40 and Euro Stoxx 50 indices.
SIA Engineering Company Limited
Mr. Toh Meng WeeManager Risk Management & Public Affairs(65) 6549 2495
Quitterie de BREBISSON+33 (0)1 40 60 84 40
Catherine MALEK+33 (0)1 40 60 80 28