SR Technics to be bought by UAE firm

THE 1,100 or so Irish-based staff of the Swiss-owned aircraft maintenance company SR Technics are not in any immediate danger of losing their jobs after the company changes hands.

The company announced yesterday it is to be acquired by a consortium of three investors from the United Arab Emirates (UAE) who have an investment interest in the aerospace industry. The Middle-Eastern team is set to buy the company for 1.6 billion Swiss Francs (€1.01 billion) and are understood to support SRs international growth strategy.

“This shouldn’t see any disruption to any of our international operations as the move is about growth more than anything else,” an SR Technics spokesperson said.