Haeco Buys Timco! #AvMRO

RSS

Hong Kong Aircraft Engineering Co. (Haeco) just announced plans to purchase Timco Aviation Services for $388.8 million. The deal, pending usual closing and regulatory approvals, should occur in the first quarter 2014. 


Haeco, part of the Swire Pacific Group that includes Cathay Pacific, provides maintenance and engineering for Cathay as well as other operators, created an engineering center of excellence for interiors--so the acquisition of Timco, which offers heavy maintenance, interior manufacturing and line maintenance services--adds a manufacturing element. Besides complementary services, it also provides Haeco an entree into the North American market.

Haeco and Timco both just sent out press releases, but one statement in the Timco announcement highlights the interiors component, which could be one of the key drivers for the acquisition. Kevin Carter, Timco's CEO, says, “This exciting and unique opportunity offers our customers access to a broader and deeper platform of products and services while better enabling us to seize on current global growth opportunities related to interiors engineering and manufacturing.”

Two sources told me a conference call with Timco employees is occurring now.

Please or Register to post comments.

What's Things With Wings?

Aviation Week's civil aviation blog

From The Archives

Aviation Week is approaching its 100th anniversary in 2016. In a series of blogs, our editors highlight editorial content from the magazine's long and rich history.

 

Aug 27, 2015
blog

Aviation Week Lifts Veil On Boeing B-52 Bomber (1952) 12

In 1952, Aviation Week provided the first details on the new Boeing B-52 bomber....More
Aug 14, 2015
blog

Bonanza Travel Pays 3

The legendary Beechcraft Bonanza has an impressive production record, so perhaps the marketers back in 1949 were onto something when they coined the phrase "Bonanza travel pays."...More
Aug 14, 2015
blog

Venerable Boeing 727 Prototype To Fly Again 28

The most famous 727, the prototype aircraft which would join United as N7001U, was delivered to the airline in October 1964 having served its time as a Boeing test aircraft....More
Aug 13, 2015
blog

Aviation Week And The Bomb

Aviation News did not predict how nuclear weapons would change the world. But neither did anyone else....More
Aug 13, 2015
blog

Collins Radar Takes The Ups And Downs Out Of Flying

Turbulence? Rockwell Collins had a solution for those bumpy rides in the early 80s with its WXR-700 Doppler Weather Radar....More
Blog Archive
Penton Corporate

Sponsored Introduction Continue on to (or wait seconds) ×