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January 2019

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SIA Engineering Company (SIAEC) has entered into an agreement with Heston Services Limited (Heston) for the divestment of 100% of the issued share capital of SIAEC’s wholly owned subsidiary, Aircraft Maintenance Services Australia (AMSA). AMSA is based in Australia, and is in the business of providing line maintenance services in major Australian airports. The divestment of AMSA is in line with SIAEC’s overall strategy to streamline and rationalise its line maintenance international operations, and to focus on areas of high growth potential and competitive advantage.


SIAEC will receive an estimated A$4.5 million in cash upon the completion of the divestment. The consideration for the divestment was arrived at after arm’s length negotiations, on a ‘willing-buyer, willing-seller’ basis, and after taking into account, inter alia, the net asset value and financial performance of AMSA. No valuation was performed for the purpose of the divestment.

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