Saab welcome SEACOR as owner into Hawker Pacific. "This is a very positive development", says Saab board member in Hawker Pacific Peter Sandehed.
From Hawker Pacific's press release 21 December 2010:
'Hawker Pacific Airservices Limited ("Hawker Pacific") today announced that it has successfully completed its previously announced strategic investment agreement with SEACOR Capital (Asia) Limited ("SEACOR"), a wholly owned subsidiary of SEACOR Holdings Inc. (NYSE: CKH). Under the terms of the transaction, SEACOR has acquired a minority shareholder position by investing $25.0 million cash into Hawker Pacific in exchange for newly issued common equity, and has also appointed representatives to the Hawker Pacific Board of Directors.
Hawker Pacific’s current shareholders, Saab AB Sweden ("Saab") and Lynton Holding Asia DK APS ("Lynton") welcome SEACOR as a partner, and are committed to jointly working together over the long-term to expand Hawker Pacific’s reach across Asia Pacific and the Middle East.
The strategic investment by SEACOR will underpin the next phase of growth for Hawker Pacific, which is already a market leader in integrated civil and military aerospace sales and product support. The company’s operations currently include established businesses in Australia, New Zealand, Singapore, the Philippines, Indonesia, Malaysia, Dubai and Mainland China. Through its established infrastructure, engineering capability and sales expertise, Hawker Pacific represents some of the world’s leading aircraft manufacturers, including the Hawker Beechcraft Corporation, Bell Helicopter and Diamond Aircraft.
The newly constituted Board of Directors expects to invest the proceeds from the strategic investment in a wide range of initiatives designed to significantly expand Hawker Pacific’s sales and marketing resources, technical and engineering capability and further develop its MRO and FBO infrastructure across Asia Pacific and the Middle East.'