Bringing The World Home To You

© 2022 WUNC North Carolina Public Radio
120 Friday Center Dr
Chapel Hill, NC 27517
919.445.9150 | 800.962.9862
91.5 Chapel Hill 88.9 Manteo 90.9 Rocky Mount 91.1 Welcome 91.9 Fayetteville 90.5 Buxton 94.1 Lumberton 99.9 Southern Pines
Play Live Radio
Next Up:
Available On Air Stations

TIMCO Sold To Asian Company

A plane lands at Piedmont Triad International Airport.
redlegs21 via Flickr, Creative Commons

Greensboro based TIMCO Aviation is being sold to Hong Kong company for 388 million dollars. TIMCO is one of the nation’s largest MROs (maintenance, repair, and overhaul). It provides service to commercial and military aircraft and has government contracts. The hedge fund that owns TIMCO agreed this week to sell the company to HAECO for $388 million. The deal will create one of the largest MROs in the world.

“Quite honestly, we, we need to invest in our American markets. But more importantly, the real growth in aviation is going to be in Asia in the next 20-30 years and they’re going to be able to lead us into those markets,” said Kip Blakely, a Vice President with TIMCO.

Blakely as well as an industry analyst believe the merger will lead to more jobs in the Triad. TIMCO currently employs about 1,800 in Greensboro. Local layoffs aren’t expected. TIMCO will continue to operate under the same name. Along with FexEX, Honda Jet and B/E Aerospace it’s is one of the major aviation companies in the region. The deal is expected to close within 90 days.  

Jeff Tiberii covers politics for WUNC. Before that, he served as the station's Greensboro Bureau Chief.
Related Stories
More Stories