SINGAPORE - SIA Engineering Co has commenced the restructuring of the businesses of Singapore Jamco, a joint venture between three parties.
The joint venture, which currently operates two core businesses, is 65 per cent owned by SIA Engineering, with Jamco Corporation and Itochu Corporation holding the remaining 30 per cent and 5 per cent, respectively.
Singapore Jamco makes galley equipment and seats, as well as provide services related to the maintenance of cabin and aircraft support equipment.
Under the restructuring, the three partners have incorporated a new company, Singapore Jamco Services, based on their current shareholding interest.
This will enable both Singapore Jamco and the new entity to enhance the focus on their respective core competencies.