SIAEC forms line maintenance JV with Air Innovation Korea

Submitted By:  Clarist Zablan Case Study:  No The company will have an initial registration capital of $5.53m. SIA Engineering Company (SIAEC) has entered into a joint venture (JV) agreement with Air Innovation Korea (AIK) for a Korea-based line maintenance project, according to a press release. Under the agreement, SIAEC will hold an equity stake of 51% in the Joint Venture, with AIK taking the remaining 49% stake. The JV company will have an initial registration capital of around $5.53m (KRW4.77b). SIAEC will subscribe for $2.82m (KRW2.43b) in cash, whilst AIK will subscribe for $2.71m (KRW2.34b). read more