StandardAero has signed an agreement with joint venture partners Pratt & Whitney and SIA Engineering Company (SIAEC) for the purchase of a 100 per cent ownership stake in Singapore-based component repair facility Asian Surface Technologies (AST).
AST was founded in 1994 to provide overhaul services for the PW4000 jet engine fan blades and specialised thermal spray coating services for the aerospace and oil & gas industries.
Over the past 27 years, AST has provided high technology hard face coatings and component repairs to customers in the Asia Pacific region and around the world.
In 2017, StandardAero acquired PAS Technologies including a 40.8 per cent stake and management control of AST. The new transaction marks the final acquisition of 100 per cent ownership of AST.
StandardAero said its aim was to grow its Asia footprint to better serve engine OEM and airline customers throughout the Asia Pacific region.
“We are excited by the prospect of broadening and deepening our in-region repair capabilities,” said StandardAero’s president of components, helicopters and accessories Rick Stine. “Having a well-established facility in a world class aerospace hub such as Singapore will enable StandardAero to provide a much wider range of world class products and services to our customers in Asia.”