China expands its presence in Estonia
Avaldatud 08. mai 2018.a.
At the end of April, the Chinese Corporation Guangzhou Hangxin Aviation Technology closed a deal for 43 million euros to acquire all of the shares in the Estonian company Magnetic MRO.
The main shareholder — the investment company Baltcap - together with other minority shareholders announced the decision to sell a full package of shares to the Chinese side in January of this year. Magnetic MRO is a full service airline company. Among other things, the company provides technical support and launch of new airlines, selection of aircrafts, overhaul, development of salons design projects and production of the necessary parts. Currently, Magnetic MRO works with a number of major aviaplayers in the European transportation market, such as AirBaltic, FinnAir, EasyJet, Vueling and so on.
The transfer of Magnetic MRO under the management of a Chinese Corporation, serving more than 50 of the world's largest airlines, will allow the Estonian company to enter new markets, expand its production significantly and receive additional investments.
Source: baltic-course.com
The main shareholder — the investment company Baltcap - together with other minority shareholders announced the decision to sell a full package of shares to the Chinese side in January of this year. Magnetic MRO is a full service airline company. Among other things, the company provides technical support and launch of new airlines, selection of aircrafts, overhaul, development of salons design projects and production of the necessary parts. Currently, Magnetic MRO works with a number of major aviaplayers in the European transportation market, such as AirBaltic, FinnAir, EasyJet, Vueling and so on.
The transfer of Magnetic MRO under the management of a Chinese Corporation, serving more than 50 of the world's largest airlines, will allow the Estonian company to enter new markets, expand its production significantly and receive additional investments.
Source: baltic-course.com
