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Haeco Buys Timco for $389 Million to Expand Maintenance

Hong Kong Aircraft Engineering Co., the city-based airplane-maintenance provider, agreed to pay $388.8 million to buy Timco Aviation Services Inc. to expand the business.

The two companies will be able to offer more customers a wider range of services, including airframe maintenance and cabin modification, Hong Kong Aircraft, also known as Haeco, said in a regulatory statement today.