2011

Marubeni to Enter Engine Leasing Business

Jun. 21. 2011
Marubeni Corporation


Marubeni Corporation and Marubeni ASEAN Pte.Ltd.(collectively “Marubeni”) and ST Aerospace have concluded joint venture (JV) discussions to form an engine leasing company in Singapore.  The new JV company, Total Engine Asset Management Pte. Ltd. (TEAM), will be equally owned (50:50) by Marubeni and ST Aerospace.
TEAM plans to invest approximately US$100million within the first two years and aims to further expand its investment in the future.
The aviation industry is expected to show steady growth in the long term, due to increasing demand in emerging countries, accelerating borderless economic activities, and world-wide deregulation. Consequently, engine leasing needs  are  also expected to grow in the future.
Marubeni is a general trading company involved in world-wide business activities in a wide-range  of fields. In the aviation sector, Marubeni has extensive experience in providing sales agency services for commercial aircraft, business jets and engines, investing in engine development programs, aircraft  leasing, and various other services including aircraft components, airport ground handling services, and so on. By entering into the engine lease business,  Marubeni strengthens its comprehensive range of services to airlines around the world,  and furthers its contribution to the aviation industry.


TEAM Outline

Name of the Company:  Total Engine Asset Management Pte. Ltd.
Location:  Republic of Singapore
Incorporation: July 2011
Shareholders: Marubeni Group 50%, ST Aerospace Group 50%
Business:  Investment and management of engine assets


ST Aerospace Outline

Name of the Company:  Singapore Technologies Aerospace Ltd
Head Office: Republic of Singapore
Business: Aircraft Maintenance and Modification, Component and Engine Total Support
Number of employees:  About 8,000 (June 2011)


   

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