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

Passenger claim proves Vueling’s “technical issue” wrong

While aviation industry keeps expanding, its shortcomings are only getting worse – Eurocontrol 2017 data reveals increasing flight delays. Stuck in Barcelona waiting for her Vueling flight, Seli...

FltCtrl launches Flock, a unique online business aviation directory

London-based aviation IT solutions company FltCtrl has launched Flock.aero, a new, community-based global online directory of airports, FBOs, ground handlers and providers which can be accessed by the...

Stronger and leaner Airbus Helicopters displays solid commercial performance in 2017

409 helicopters delivered last year Solid commercial performance of heavy and super-medium helicopters First wave of company-wide transformation completed Airbus Helicopters delivered 409...

Falcon Aviation and Leonardo Helicopters partner for new helicopter offshore and onshore contract for Kuwait Oil Company

Falcon Aviation, one of the UAE’s leading aviation companies specialising in business aviation services, charter and aircraft management, confirmed today (17th January 2018) at the Kuwait A...