SIA Engineering (Philippines) and NAAI partner for aircraft recycling solutions

SIAEC

SIA Engineering (Philippines) has signed an agreement with aircraft part-out specialist North American Aerospace Industries (NAAI) to provide sustainable, end-to-end aircraft recycling solutions.

Under the agreement, the wholly-owned SIA Engineering (SIAEC) subsidiary and NAAI will collaborate to provide a range of services including aircraft parking and storage, component harvesting and dismantling activities on aircraft that will be parted-out and recycled by NAAI.

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SIA Engineering said the programme would enhance its “support in the aircraft lifecycle eco-system, centred on a sustainable platform which includes the recycling, upcycling and used-serviceability of materials”. The services will be undertaken by SIA Engineering (Philippines) at its facility in Clark, Philippines.

“With SIAEC Group’s strong technical capabilities, high-quality engineering support, vast experience and understanding of the maintenance, repair and overhaul needs of our customers, we look forward to supporting NAAI in driving sustainable solutions in the aircraft part-out market,” said SIA Engineering (Philippines)’ general manager Marek Wernicke.

NAAI’s director and chief executive officer Sven Daniel Koechler said: “We are excited and proud to be working with SIAEC. We believe that by securing this agreement with SIAEC, NAAI will be in a better position as a leading aircraft part-out and recycling specialist.”

The transaction is not expected to have a material impact on the earnings per share or the net tangible assets per share of the SIAEC Group for the financial year ending 31 March 2022.

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