A Completion Ceremony for Hangxin Acquisition of DMHB.V. Held in Amsterdam

Release date:2019-03-28

Hangxin celebrated the acquisition of Direct Maintenance with a completion ceremony that took place in Amsterdam on March 27th, 2019.Through Magnetic MRO,a global provider of Total Technical Care for aircraft operators and lessors, owned by Hangxin, the overall acquisition of Direct Maintenance has completed successfully.

With a team of 140 employees,DIRECT MAINTENANCEHOLDINGB.V. ,the Dutch MRO company provides a wide range of line maintenance services for narrow-and wide-body aircraft, including Airbus A340, A380 and A350, as well as Boeing 747, 777 and 787. The company also supports Embraer 170/190 and MD-11 aircraft types. Direct Maintenance’s network  covers 8 countries with 11 line stations serving national flag carriers and major leisure airlines from Europe, Middle East, USA, Asia and Africa.

Magnetic MRO’s CEO Risto M?eots, who was in Amsterdam to welcome DMHB.V. join the group and express his sincere gratitude to the staff of Direct Maintenance, the group’s shareholder Hangxin, bond buyers and everyone who was involved in the acquisition process in his speech.

“We have grown from a company of 180 employees to a company of 520 employees, with Direct Maintenance staff included; we have grown from a 12 million euro revenue to a 120 million euro revenue within 6 years. That gives us confidence that we are doing something right and we are doing something with great passion,” M?eots added.

In his speech, Direct Maintenance’s Managing Director Frank Daams give his thanks to the management of Magnetic MRO and Hangxin for the trust and belief they’ve shown in Direct Maintenance. “Today’s event marks a new step for Direct Maintenance and all my fellow coworker. Infact, I would like to consider this acquisition as a huge compliment to all our staff members. Their hard work and dedication has made Direct Maintenance to what it is today.”