SINGAPORE - Mainboard-listed SIA Engineering and Nasdaq-listed Stratasys have signed a Memorandum of Understanding (MOU) to establish a strategic partnership specialising in additive manufacturing to accelerate the adoption of 3D printed production parts for commercial aviation.
Under the MOU, the firms will explore a joint venture to be majority owned by SIA Engineering, they announced jointly on Wednesday (April 5).
The firms intend to establish a Singapore-based Additive Manufacturing Service Centre, offering design, engineering, certification support and part production to SIA Engineering's network of partners and customers. Stratasys will provide the domain expertise related to additive manufacturing and drive the development of aerospace applications together with SIA Engineering.
Said its CEO Png Kim Chiang: "Our collaboration will strengthen SIA Engineering's comprehensive suite of MRO (maintenance, repair and overhaul) solutions and enhance our support to customers, especially in the region."
"This strategic partnership marks an important milestone for additive manufacturing in the aviation industry," said Mr Ilan Levin, CEO of Stratasys. "As we have shown with our existing relationships with leading aerospace manufacturers, including Airbus and Boeing, we are committed to advancing the use of additive manufacturing for high requirement aerospace applications. By working closely with SIAEC, we are extending that focus to solve the unique challenges of the MRO segment and further drive adoption."