Hong Kong Co. Pays $389M For US Aircraft Maintenance Biz

Law360, New York (October 24, 2013, 3:55 PM ET) -- Hong Kong Aircraft Engineering Co. agreed to buy North Carolina-based TIMCO Aviation Services Inc. for $388.8 million in cash, the companies announced Thursday.

Both companies perform maintenance and repair on aircraft and HAECO aims to broaden the range and volume of its available services. The merger will create a big name in airframe service providers that could capture market growth opportunities, the companies said.

"The acquisition of TIMCO will expand HAECO’s operations and broaden its sources of revenue. We believe that the business and operations of...
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