HAECO Completes Acquisition Of TIMCO Aviation Services, Inc.

         HAECO Completes Acquisition Of TIMCO Aviation Services, Inc.

Creating One of the World's Leading Airframe and Aircraft Interiors MRO
Providers

PR Newswire

GREENSBORO, N.C., Feb. 6, 2014

GREENSBORO, N.C., Feb. 6, 2014 /PRNewswire/ --Hong Kong Aircraft Engineering
Company Limited ("HAECO", HKSE:00044) announced today that it has completed
its previously announced acquisition of TIMCO Aviation Services, Inc.
("TIMCO"), creating one of the world's leading providers of aircraft
maintenance, repair, overhaul (MRO) services and aircraft interiors products
and services.

"This is a truly exciting day for HAECO and TIMCO as our companies embark upon
a new chapter of global growth," said Augustus Tang, Chief Executive Officer
of HAECO. He added, "TIMCO's strong reputation for quality aircraft care and
customer services fits well with the HAECO family of companies. We are looking
forward to continuing to grow TIMCO's capabilities and reach, especially in
the delivery of aircraft interiors products and services."

Kevin Carter, Chief Executive Officer of TIMCO, said, "The customers,
employees and communities where TIMCO facilities are located have much to look
forward to as we embark on our new relationship with HAECO. Our strategic
combination will build upon both companies' global customer reach, utilize
best practices across a broader enterprise and elevate our commitment as
responsible corporate citizens in the communities in which we operate."

With the completion of the transaction, TIMCO will be a wholly-owned
subsidiary of HAECO, creating one of the world's leading airframe MRO service
providers based on scope of services and products offered. HAECO and TIMCO
together will provide customers with an enhanced range of capabilities and
will be uniquely positioned to capitalise on significant growth opportunities,
particularly in the aircraft interiors engineering and manufacturing market
segments.

About Hong Kong Aircraft Engineering Company Limited ("HAECO")

HAECO is one of the world's leading aircraft maintenance and engineering
groups providing a comprehensive range of services encompassing Airframe
Maintenance, Line Maintenance, Component Services, Engine Overhaul, Inventory
Technical Management, Fleet Technical Management, Cabin Reconfiguration &
Integration Services, VIP Cabin Completion, Freighter Conversion, Parts
Manufacturing and Technical Training. The HAECO Group consists of 17
subsidiaries and affiliates, employing over 17,000 staff in Hong Kong,
mainland China, Singapore and the U.S. HAECO is publicly listed on the Hong
Kong Stock Exchange (Stock Code: 00044). HAECO's website: www.haeco.com

About TIMCO

TIMCO Aviation Services is one of the largest, independent aircraft
maintenance, repair and overhaul (MRO) providers, supporting global aircraft
operators and owners with comprehensive aircraft care services including base
maintenance from four multi-hangar locations. The company's TIMCO Aerosystems
division provides interiors design, engineering, certification and integration
services, as well as manufactured products including the FeatherWeight™ line
of galleys, lavatories and passenger seating. The TIMCO Engine Center
provides engine MRO and TIMCO's line services network delivers line
maintenance and cabin care at airports across the U.S. More information is
available at www.timco.aero.

SOURCE TIMCO Aviation Services, Inc.

Website: http://www.timco.aero
Contact: For HAECO: Sharon Lun, Corporate Communications Manager, Tel: (852)
2767 6544 / 6719 6544, Email: sharon.lun@haeco.com; or For TIMCO: Chuck
Dohrenwend or Pat Tucker, Abernathy MacGregor, Tel: +1 (212) 371-5999, Email:
COD@ABMAC.COM or PCT@ABMAC.COM
 
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