50 SKY SHADES - World aviation news

Magnetic MRO continues to grow with a new strategic investor

Download: Printable PDF Date: 04 Jan 2018 04:19 categories:
Publisher:
Magnetic MRO continues to grow with a new strategic investor - Finance publisher
Tatjana Obrazcova
Aircraft: Airplanes

Magnetic MRO, a global Total Technical Care maintenance and asset management organisation, has announced change in its shareholder structure. Its major shareholder, a private equity firm BaltCap, together with minority shareholders, are selling 100% of the shares in Magnetic MRO to Guangzhou Hangxin Aviation Technology (“Hangxin”).

Magnetic MRO has grown over the past 5 years from a labor intensive maintenance facility into a technologically advanced, innovative, know-how and capital driven service and asset management organization. It has succesfully grown by launching new business units, opening new facilities and securing numerous long term agreements with premium carriers. Magnetic MRO sales increased exponentially in 2010-2017 and is expected to grow with same rate over the upcoming years. The number of employees has increased from 160 to over 440. “We are pleased to welcome Hangxin as our shareholder at a time when we are focused on expanding our global presence,” said Magnetic MRO CEO Risto Mäeots. “Magnetic MRO management has been actively looking for opportunities to expand into Asia, the highest growth market in aviation. Hangxin, with its existing geographical presence and service portfolio, is complementary to Magnetic MRO, creating substantial synergies and new business opportunities.”

“We are very pleased to welcome Magnetic MRO to the Hangxin team. Magnetic MRO and its team have developed a high quality, reliable, customer-focused MRO business,” said Mr. Lv Haibo, the Vice President of Hangxin. “We fully support the existing strategy and executive management team, and will support Magnetic MRO’s focus on continuing to deliver value to its existing customers, and expanding its global MRO presence.”

Image result for Magnetic MRO

About Guangzhou Hangxin Aviation Technology Co., Ltd.

The company was established in 1994. It provides technical solutions in the field of aircraft engineering and safety to the Chinese aviation industry. Companies five main core businesses are component MRO, airborne equipment R&D, aviation test equipment R&D, aircraft retrofit programs, aircraft data analysis & application. Hangxin serves over 50 airlines in Asia, Middle East, Europe and North America. In 2015, Hangxin was officially listed on the Shenzhen Stock Exchange GEM.



Loading comments for Magnetic MRO continues to grow with a new strategic investor...


Recommended

Philippine Airlines selects Airbus Flight Hour Services maintenance solution for its A350-900 fleet

Airbus’ FHS reaffirms its leading position on the A350 XWB both globally and in the Asia-Pacific region. FHS contract to support PAL’s long-haul services to North America and Europe....

Brussels Airport wins the Routes Europe 2018 Marketing Awards

Brussels Airport was crowned the overall winner of the Routes Europe 2018 Marketing Awards at a ceremony tonight (23 April) in Bilbao, Basque Country. The annual Routes Europe Marketing Awards...

Baltic Ground Services will provide services for Turkish Airlines’ Airbus A330 Cargo

On the 19thof April, Baltic Ground Services (BGS) – a Lithuanian company situated in Vilnius, which provides ground handling for aircraft and passenger services at 16 airports in Europe, landed...

Central Europe's First HondaJet Available for Private Charter Lands in Warsaw

HondaJet Central Europe has announced that the region’s first HondaJet available for charter has made its official debut with an appearance event at the Chopin-Warsaw Airport. The debut took pla...