Haeco buys US aircraft maintenance firm

Swire Pacific’s subsidiary Haeco buys US-based aircraft maintenance firm Timco for $388 million.

Haeco buys US aircraft maintenance firm

Hong Kong Aircraft Engineering Company Haeco has agreed to buy Timco, a US-based provider of aircraft maintenance and repair services, for $388.8 million.

The acquisition from hedge fund Owl Creek Asset Management is the second-largest US deal by a Hong Kong-listed company since 2011, after Fosun earlier this week announced the $725 million purchase of Chase Manhattan Plaza from JP Morgan.

Timco, headquartered in Greensboro, North Carolina, is one of...

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