MTU Buys Out Partner Stake In Leasing Business
MTU Aero Engines has assumed 100% control of its engine leasing business after buying the stake of Japanese partner Sumitomo Corp.
The German engine specialist has purchased 20% of Amsterdam-based MTU Maintenance Lease Services (MLS), which will become a fully owned subsidiary.
The company was founded in 2014 to support the MTU Maintenance business with spare engines and materials. MLS supplies engines reflecting the MRO services of its MTU Maintenance counterpart, including the CF34, CF6-80C2, CFM56, GE90, PW2000 and V2500 engines.
Under the new structure, MTU says it will ensure more focused support and continued used serviceable material supply for MTU’s network of maintenance facilities.
“We look forward to further optimizing our business as a 100% subsidiary within the MTU group. It provides a solid foundation for our future growth strategy,” says Patrick Biebel, managing director of MLS.
He continues: “Our lease and material support services complement the MTU Maintenance MRO portfolio and enable complete service solutions to be offered to customers. Furthermore, MLS will expand its asset management services, such as managed leases and material consignments for the lessor community.”
Last month, in more restructuring of its leasing interests, MTU also confirmed the sale of its 10% share in SMBC Aero Engine Lease B.V. to Sumitomo Mitsui Finance & Leasing.