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SHANGHAI, March 21 (Xinhua) -- Aircraft Recycling International Limited (ARI), a member company of China Aircraft Leasing Group Holdings Limited (CALC) , has acquired U.S. aviation service provider Universal Asset Management, Inc.(UAM).
As a wholly-owned U.S. subsidiary of ARI following the acquisition, UAM will be responsible for ARI's aircraft recycling business overseas, and a part of its global disassembly and distribution platform, according to an announcement made by CALC on Monday.
CALC said the acquisition allowed ARI to become a full value-chain aircraft solutions provider and the company planned to optimize its global solutions for aging aircraft to meet the demands of Chinese market.
Specializing in asset management of aging aircraft, ARI is now building the largest aircraft recycling center in the Asia-Pacific region in Harbin, capital of northeast China's Heilongjiang Province.
