Apr 5, 2017

MAINBOARD-LISTED SIA Engineering Company Limited ("SIAEC") announced on Wednesday the signing of a memorandum of understanding (MOU) with Stratasys, a 3D printing and additive manufacturing solutions company, to establish a strategic partnership specialising in additive manufacturing to accelerate the adoption of 3D printed production parts for commercial aviation.

Under the MOU, the two parties will explore a joint venture to be majority owned by SIAEC. This partnership combines Stratasys' expertise in additive manufacturing, including in the aerospace segment, with SIAEC's comprehensive maintenance, repair and overhaul ("MRO") service offerings to provide airline customers with scheduled maintenance and on-demand parts solutions.

The parties intend to establish a Singapore-based Additive Manufacturing Service Centre, offering design, engineering, certification support and part production to SIA Engineering's network of partners and customers.

Stratasys will provide the domain expertise related to additive manufacturing and drive the development of aerospace applications together with SIA Engineering.

"This strategic partnership marks an important milestone for additive manufacturing in the aviation industry," commented Mr Ilan Levin, CEO of Stratasys. "As we have shown with our existing relationships with leading aerospace manufacturers, including Airbus and Boeing, we are committed to advancing the use of additive manufacturing for high requirement aerospace applications. By working closely with SIAEC, we are extending that focus to solve the unique challenges of the MRO segment and further drive adoption."

SIAEC CEO Png Kim Chiang said the collaboration will strengthen SIAEC's comprehensive suite of MRO solutions and enhance its support to customers, especially in the region.

The transaction is not expected to have a material impact on the financial performance of SIAEC or Stratasys in FY2017/18.



Posted in 3D Printer Company



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