DAVID KAMINSKI-MORROW / LONDON
Swiss maintenance firm SR Technics is in talks about a possible acquisition of Irish/UK aircraft maintenance firm FLS Aerospace, which has been seeking a strategic partnership for the past two years.
Details of the discussions have not been disclosed and SR Technics has not revealed whether an investment would involve taking over some, or all, of the company.
SR Technics - which underwent a management buy-out last year, funded largely by UK venture capital group 3i - says: "There are talks about buying FLS Aerospace and we are a party to those talks."
It will not indicate the status of the talks or disclose a timeframe for any possible deal, saying: "We will not [say anything] to disturb or influence the talks."
Maintenance companies have been hit hard by the economic downturn. SR Technics has been seeking to strengthen its business, particularly in the wake of the cutbacks at Swiss International Air Lines, the maintenance company's main customer.
FLS Aerospace has had to restructure its business in a bid to achieve profitability. The company has previously said it would welcome investment through a takeover or partnership. FLS says it "has been in talks with several potential parties on whether to arrange a partnership or sale of FLS Aerospace".
Source: Flight International
