Plans for the Sino-Singapore joint-venture company, Shenzhen Aircraft Maintenance and Engineering (SAMECO), have been scrapped after the venture failed to win government approval to perform heavy maintenance work.
SAMECO was due to open by early 1996, initially providing line maintenance, but with the long-term intention of developing a heavy-maintenance capability (Flight International, 7-13 September, 1994).
Singapore Technologies Aerospace (STAe) and Changi International Airport Services had planned to take 10% and 15% stakes respectively, with China holding the remaining shares. Other contributing factors to SAMECO's demise, according to industry sources, are the worldwide slump in maintenance rates and the recent poor performance of STAe's own Singapore Aircraft Services.
Source: Flight International
