newstodate.aero
Feb 05, 2019 (newstodate): Estonia-headquartered aircraft maintenance provider Magnetic MRO is growing fast - and embarking on a new road to expansion.
The Chinese-owned company is preparing for an emission of new bonds at the Estonian stock exchange to raise capital for acquisition of a competitor in the business.
In January 2018, the Chinese company Guangzhou Hangxin Aviation Technology completed the acquisition of Magnetic MRO, opening new venues for entry into the Asian markets.
Set up in 1991 and trading as Air Maintenance Estonia, the company was acquired by the Danish carrier Maersk Air in 2002 before being taken over by SAS in 2003.
SAS later sold its stake in the company in 2010 to a Baltic investment group, BaltCap, that divested of its entire stock in the company that was re-branded Magnetic from September 15, 2014.
The Chinese-owned company is preparing for an emission of new bonds at the Estonian stock exchange to raise capital for acquisition of a competitor in the business.
In January 2018, the Chinese company Guangzhou Hangxin Aviation Technology completed the acquisition of Magnetic MRO, opening new venues for entry into the Asian markets.
Set up in 1991 and trading as Air Maintenance Estonia, the company was acquired by the Danish carrier Maersk Air in 2002 before being taken over by SAS in 2003.
SAS later sold its stake in the company in 2010 to a Baltic investment group, BaltCap, that divested of its entire stock in the company that was re-branded Magnetic from September 15, 2014.