SIA Engineering Company (SIAEC) announced recently that it has signed a long-term distribution agreement with Iacobucci HF Aerospace (IHFA), a cabin interior Original Equipment Manufacturer based in Ferentino, Italy, for major airframe manufacturers such as Airbus and Boeing. The agreement bolsters SIAEC’s existing collaboration with IHFA as one of the authorised repair centres for IHFA’s galley insert products in the region. Under the terms of the agreement, SIAEC is granted the rights in the Asia-Pacific region to distribute and sell spare parts required for the aftermarket activities of IHFA’s galley insert products that are mainly featured on the premium cabins of current and next generation aircraft, including Airbus A350 and A320neo as well as Boeing 787, 777X and 737MAX.
Ng Chin Hwee, SIAEC CEO, said, “SIAEC is delighted to extend our collaboration with IHFA that now vertically integrates the supply chain aspect into our cabin suite of services. By leveraging our extensive airline and fleet management experiences, we aim to augment our role in the region in facilitating better, more accessible and faster cabin aftermarket support to IHFA’s existing airline and MRO customers.”
Lucio Iacobucci, IHFA president and CEO, said, “We are excited and proud to have extended the collaboration with SIAEC to implement a more innovative and efficient spare parts distribution system throughout the APAC region. Given SIAEC’s extensive support network and experience, I am confident that our customers will immediately benefit from our collaboration and experience superior customer support through a more efficient supply chain flow in the region.”
The transaction is not expected to have a material impact on the earnings per share or the net tangible assets per share of the SIAEC Group for the financial year ending 31 March 2022. None of the directors and controlling shareholders of SIAEC has any interest, direct or indirect, in the transaction, other than through their shareholdings (if any) in SIAEC.