SR Technics and Shanghai FASCO conclude joint venture agreement

SR Technics, the world’s leading independent provider of total technical solutions to the aviation sector, has concluded a joint venture agreement with the Shanghai Foreign Aviation Service Corporation (Shanghai FASCO) of the People’s Republic of China. Under the accord, the partners will form a new company named Shanghai SR Aircraft Technics which will provide line maintenance, technical training, technical consulting and additional services at Shanghai International Airport starting in April. The agreement was signed in Shanghai on Thursday, January 19, 2006.

As a first step in this collaboration, the partners intend to establish Shanghai SR Aircraft Technics as a leading provider of line maintenance and technical training and technical consulting services in Shanghai. At a later stage, the new company intends to extend its operations to other airports in the region and expand the range of products and services offered.

The two companies ideally complement one another in the new joint venture. SR Technics brings its specific expertise in the line maintenance and technical training fields, and will also assist Shanghai SR Aircraft Technics in acquiring the necessary maintenance licences required from the US Federal Aviation Administration (FAA), the European Aviation Safety Agency (EASA) and the Chinese Civil Aviation Authority (CAAC).

Shanghai FASCO, for its part, is an experienced provider of airline services such as ground handling, cargo services and human resources management. The company already has an extensive customer base of foreign airlines for its Shanghai operations and is owned by the Civil Aviation Administration of China (the country’s civil aviation authority). Commenting on the new agreement, Hans Lerch, CEO of SR Technics Group, said “This is an excellent opportunity for SR Technics to increase our presence in China as we put an even stronger focus on the Asia-Pacific region. This new joint venture with Shanghai FASCO firmly establishes SR Technics in this rapidly developing market as we continue to expand our Integrated Airline Solutions (IAS) network globally through co-operations with strategic partners.”

Source: SR Technics

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