SATS deepens China footprint with 90% stake in NWA
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SATS Ltd has acquired a 90% stake in Nanjing Weizhou Airline Food Corp. (NWA) by purchasing an additional 40% from founder Luo Bo, gaining majority control of the aviation food producer. This follows SATS's initial 50% investment in 2019. NWA, which specializes in frozen in-flight meals, has seen its revenue more than double since the pandemic due to increased demand from Chinese airlines. SATS plans to consolidate operations and integrate production capabilities between NWA and its China food solutions business.
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Source: Singapore Business Review The copyright of this article belongs to the original author/organization.
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