Danish aircraft spare parts distributor Satair A/S acquires 49% stake in Chinese service company.
AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD
Danish aircraft spare parts and services provider Satair A/S announced on Tuesday (19 February) that it has agreed to acquire a 49% stake in the Chinese company Sichuan Ruibo Hydraulic Component Service (Ruibo).
The purchase price for the shares is USD1.1m in cash.
Ruibo, based in Chengdu in western China repairs hydraulic components for Air China, China Eastern, China Southern as well as several minor airlines. The company has 25 employees and posted revenues of USD2m in 2007.
Satair said that although current Chinese legislation does not allow foreign partners to hold controlling stakes in activities related to aviation, it has obtained an option to increase its holding in Ruibo should the laws change.
Satair, headquartered in Copenhagen, Denmark, is one of the world's leading distributors of spare parts to aircraft manufacturers.
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|Publication:||Airline Industry Information|
|Date:||Feb 20, 2008|
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