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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Hong Kong Aircraft Engineering Co., Ltd.    0044   HK0044000302


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Hong Kong Aircraft Engineering : HAECO ITM & THAI Embark on an Aircraft Component Repair Collaboration

04/04/2014 | 06:31am EST
Press Releases

HAECO ITM & THAI Embark on an Aircraft Component Repair Collaboration

HAECO ITM Limited (HXITM) and Thai Airways International Public Company Limited (THAI) have embarked on a long-term collaborative initiative in aircraft component repair. Drawing on collective strengths, the collaboration enhances product offering of the two companies.

Under the initial business collaboration framework, HXITM has identified a list of aircraft components that will be repaired at THAI's technical facilities at Don Mueang Airport in Bangkok. "We continuously seek to improve our supply chain in tandem with the expansion of our third-party Inventory Technical Management business," said Richard Reed, Executive General Manager of HXITM. "By working with a strategic supplier in the region like THAI, we are able to enhance the value proposition to our customers by optimising repair costs and cycle times and therefore offering better material availability through our pool inventory in Hong Kong," Mr. Reed added.

The collaboration also leverages the extensive component workshop capabilities of Hong Kong Aircraft Engineering Company Limited (HAECO) in Hong Kong, which undertakes repair for a range of aircraft components from THAI. "HAECO has been a long-time partner of THAI in line maintenance in Hong Kong. With the geographical proximity and excellent connectivity between Bangkok and Hong Kong, we are delighted to strengthen this relationship by tapping HAECO's strong MRO heritage, technical expertise and vast operational experience to consolidate some of our subcontracted component repairs. This leads to significant cost savings and turnaround time improvements that fuel our operational efficiency, thus helping THAI meet our growth plans," said Flt. Lt. Montree Jumrieng, Executive Vice President, Technical Department of THAI.

Both HXITM and THAI take a long-term view of expanding the part-number scope of the partnership as well as exploring the possibility of inventory sharing in the future.

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About HAECO ITM Limited ("HXITM")

Based in Hong Kong, HAECO ITM Ltd. (HXITM) specialises in the provision of components, as well as inventory and supply chain management. Working hand-in-hand with OEMs and world-class supply chain partners, HXITM optimises component reliability, operational efficiency and costs, ensuring fleet performance and technical dispatch reliability for its customers.  The company was formed in 2012 as a joint venture between HAECO and Cathay Pacific Airways.

About Hong Kong Aircraft Engineering Company Limited ("HAECO")

HAECO is one of the world's leading aircraft maintenance and engineering groups providing a comprehensive range of services encompassing Airframe Maintenance, Line Maintenance, Component Services, Engine Overhaul, Inventory Technical Management, Fleet Technical Management, Cabin Integration Services, VIP Cabin Completion, Freighter Conversion, Parts Manufacturing and Technical Training.  The HAECO Group consists of 17 subsidiaries and affiliates, employing about 17,000 staff in Hong Kong, Mainland China, Singapore and the US.  HAECO is publicly listed on the Hong Kong Stock Exchange (Stock Code: 00044). HAECO's website: www.haeco.com

About Thai Airways International Public Company Limited ("THAI")

THAI Technical Department is one of the leaders in the Maintenance, Repair and Overhaul (MRO) of commercial aircraft, engines and components.  With over 50 years of experience and professional engineers and skilled mechanics, THAI Technical have been providing safety and reliability services 24 hour-a-day for routine and emergency support to our customers.

With 3 major maintenance facilities, Donmueang base, Utapao base, and Suvarnabhumi base, we are able to offer line and light maintenance, heavy maintenance including major modification, cabin modification, painting, component overhaul, engine overhaul and calibration services.

THAI Technical ensures our customers' aircraft a safety, quality and environmental care to achieve the highest level of the satisfaction of our customers and society.www.thaitechnical.com

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Managers and Directors
Frank Walschot Chief Executive Officer & Director
Merlin Bingham Swire Chairman
Rebecca Sharpe Group Finance Director & Executive Director
Christopher Patrick Gibbs Non-Executive Director
Kin Wing Tang Executive Director
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