ST Aerospace has announced plans to inject an additional $20.8 million into its Xiamen-based engine MRO joint venture.
The capital injection to ST Aerospace Technologies (Xiamen) Co (STATCO) will be made through ST Aerospace Engines, and is subject to Chinese regulatory approvals.
ST Engineering says the additional funding will support STATCO’s business growth, and that upon injection of the funds, STA Engines’ total share capital contribution in the firm will amount to $41.6 million.
STATCO, which operates out of Gaoqi International Airport, is an 80:20 joint venture between STA Engines and Xiamen Aviation industry. The firm provides MRO and total support services for CFM International CFM56-7B engines.
Source: Cirium Dashboard
