SINGAPORE (April 5): SIA Engineering Company (SIAEC) and Nasdaq-listed Stratasys, a 3D printing and additive manufacturing solutions company, have established “a strategic partnership specialising in additive manufacturing to accelerate the adoption of 3D printed production parts for commercial aviation”.

Under the Memorandum of Understanding (MOU) jointly signed by the two companies today, both SIAEC and Stratasys will explore a joint venture (JV) to be majority-owned by the former.

The two parties also intend to establish an Additive Manufacturing Service Centre in Singapore, which will offering design, engineering, certification support and part production to SIAEC’s network of partners and customers.

At the same time, Stratasys will provide the domain expertise related to additive manufacturing and drive the development of aerospace applications together with SIAEC.

In a Wednesday statement, SIAEC says the strategic partnership combines Stratasys’ knowhow and expertise in additive manufacturing with SIAEC’s comprehensive maintenance, repair and overhaul (MRO) service offerings to provide airline customers across the globe with scheduled maintenance and on-demand parts solutions.

The group does not expect the transaction to have any impact on its financial performance over FY17/18.

Png Kim Chiang, CEO of SIAEC, says he believes the collaboration will strengthen the group’s MRO solutions and enhance its support to customers, especially in the region.

“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,” adds Stratasys CEO, Ilan Levin.

Shares of SIAEC closed 1 cent higher at $3.70 on Tuesday.