SRT reverses decision for Middle East sale

SR Techincs is understood to have reversed a decision made mid May to sell it's APU and landing gear overhaul business to a sister company Abu Dhabi Aircraft Technologies. The original decision angered the Tanaiste (Deputy Prime minister) Mary Coughlan who is also Minister for Enterprise.

APU, Landing Gear, Base maintenance and training business units will be sold to Conor McCarthy's Dublin Aerospace company which was set up for the purpose of acquiring SRT business. The new facility will be located beside Dublin Airport and is expected to employ 250 in a venture which it is understood will involve upwards of $30m investment over 5 years. Existing customer contracts will not be transferred with the new venture.