Loading
18-Jan-2010 4:29 PM

SIA Engineering company invests in Pratt & Whitney new-generation engine to propel growth

SIA Engineering Company Limited (SIAEC) announced (18-Jan-2010) a definitive agreement with Pratt & Whitney (P&W) to participate in its PW1000G Risk-Revenue Sharing Program (RRSP). P&W is developing the PW1000G engine to power Next Generation Single-Aisle (NGSA) aircraft. SIAEC will participate in the PW1000G engine RRSP with a 3% stake in the CSeries aircraft engine program and a 1% stake in the MRJ aircraft engine program. To hold SIAEC’s investments in the CSeries and MRJ aircraft engine programs, SIAEC has incorporated two special-purpose, wholly-owned subsidiaries, namely NexGen Network Holding and NexGen Network Holding. The transaction is not expected to have a material impact on SIAEC’s financial performance in FY2009/2010. [more]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More