Extension of financing with Swiss Bank Consortium
SR Technics, a world leading MRO service provider, is pleased to announce the signing of a Chemical Consignment agreement by its affiliate in Malta. The parties to the agreement are SR Technics Malta, a center of excellence for narrowbody aircraft maintenance that delivers premium MRO services, and Aerospheres UK Ltd., a leader in the real-time distribution of aviation-related chemicals for commercial airline and MRO operations worldwide.
The partnership, which starts in September 2021, covers the storage and supply of Aerospheres’ own paints, adhesives, sealants, cleaners and lubricants required for aircraft maintenance. All materials will be stored at the SR Technics Malta facility.
As there is an average ten-day period from the purchase of hazardous materials in the United Kingdom to incoming goods inspection and delivery in Malta, the ability to have inventory on- site will allow Aerospheres to provide almost same-day delivery while saving on inventory holding costs.
“We are excited that SR Technics is now part of our consignment program. The partnership will benefit both organizations through economies of scale and on-time deliveries, thereby reducing investments in inventory and products scrapped. A fantastic customer to service, and we look forward to supporting them.” says Paul Thompson, CEO at Aerospheres.
“This new partnership will help render our supply chain more efficient and effective. It allows us to continue reducing our supplier base while driving down operational costs. We are happy to have Aerospheres onboard with us as a key supplier,” comments Mike Sigley, Head of Supply Chain, Aircraft Services at SR Technics Malta Ltd.