Business

February 7, 2014

HAECO completes acquisition of TIMCO Aviation Services

Hong Kong Aircraft Engineering Company Limited announced Feb. 6 that it has completed its previously announced acquisition of TIMCO Aviation Services, Inc., creating one of the world’s leading providers of aircraft maintenance, repair, overhaul services and aircraft interiors products and services.

“This is a truly exciting day for HAECO and TIMCO as our companies embark upon a new chapter of global growth,” said Augustus Tang, CEO of HAECO. He added, “TIMCO’s strong reputation for quality aircraft care and customer services fits well with the HAECO family of companies. We are looking forward to continuing to grow TIMCO’s capabilities and reach, especially in the delivery of aircraft interiors products and services.”

Kevin Carter, CEO of TIMCO, said, “The customers, employees and communities where TIMCO facilities are located have much to look forward to as we embark on our new relationship with HAECO. Our strategic combination will build upon both companies’ global customer reach, utilize best practices across a broader enterprise and elevate our commitment as responsible corporate citizens in the communities in which we operate.”

With the completion of the transaction, TIMCO will be a wholly-owned subsidiary of HAECO, creating one of the world’s leading airframe MRO service providers based on scope of services and products offered.† HAECO and TIMCO together will provide customers with an enhanced range of capabilities and will be uniquely positioned to capitalise on significant growth opportunities, particularly in the aircraft interiors engineering and manufacturing market segments.




All of this week's top headlines to your email every Friday.


 
 

 
Northrop Grumman photograph

AirRobot, Northrop Grumman Remotec sign distribution agreement for unmanned aerial systems

Northrop Grumman photograph An AirRobot unmanned aerial system flies at Fort Benning, Ga.. Northrop Grumman Remotec is the sole reseller of the systems to law enforcement and first responders under a distribution agreement sign...
 
 

Raytheon awarded $528 million AMRAAM contract

Raytheon has been awarded a $528,797,459 fixed-price incentive, firm target contract modification for Advanced Medium Range Air-to-Air Missiles. Raytheon will provide AMRAAM Lot 29 missiles and other AMRAAM system items. This contract involves foreign military sales. Work will be performed in Tucson and is expected to be complete by January 2018. This award was booked...
 
 

Raytheon, DRS team for Army’s third Generation IFLIR B-Kit

Building on their combined platform integration experience, Raytheon and DRS Technologies have entered into a teaming agreement for the U.S. Army’s 3rd Generation Improved Forward Looking Infrared program B-Kit “Raytheon and DRS have teamed to provide an IFLIR solution that provides our military supremacy in reconnaissance, surveillance and target acquisition,” said Dr. Taylor...
 

 

U.S. Air Force awards Raytheon $91.5 million for MALD-J

Raytheon Company received a $91.5 million U.S. Air Force contract modification award for the Miniature Air Launched Decoy Jammer missile. The contract modification is for Lot 8. Work will be performed in Tucson and is expected to be complete by June 2017. This award was booked in the first quarter 2015. MALDÆ is a state-of-the-art,...
 
 

Raytheon receives $109 million for SM-6, SM-2 parts

The U.S. Navy awarded Raytheon $109,583,490 million to purchase the long-lead materials needed to meet Standard Missile-6 full-rate production requirements and Standard Missile-2 sustainment. This award was booked in the first quarter 2015. SM-6 is a surface-to-air supersonic missile capable of successfully engaging manned and unmanned aerial vehicles and fixed- and rotary-wing aircraft. It als...
 
 

Northrop Grumman expands focus on airborne, space ISR business

Northrop Grumman’s Electronic Systems sector has announced the realignment of its Intelligence, Surveillance, Reconnaissance and Targeting Systems division to expand focus on its growing airborne and space ISR business. The former ISR&TSD is being reorganized into two separate divisions: Airborne Intelligence, Surveillance Reconnaissance and Targeting Systems; and Space Intelligence,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>