Mitsui said it has decided to make an additional investment in Willis Mitsui & Co. Engine Support (WMES), a 50/50 joint venture between Mitsui and engine leasing company Willis Lease Finance Corporation (WLFC).
“Starting with WMES' acquisition of Bridgend Asset Management Limited, an aviation asset management company affiliated with WLFC, Mitsui plans to expand its aircraft engine-related business,” read Mitsui in a statement. “Mitsui will further strengthen its partnership with WLFC, provide WMES with technical service functions in relation to aircraft engines, and enter into the aircraft engine after-sales market, which is expected to grow.”
The company did not disclose the value of the additional transaction.
WMES was established in 2011.