05.06.2009
TES Aviation Group opens new corporate headquarters and logistics facility
TES Aviation Group (TES) a subsidiary of DVB Bank SE, has today inaugurated its new corporate headquarters and logistics facility. The 130,000 sq ft state of the art facility in Bridgend, Wales, UK, accommodates all engineering and materials operations of the engine management services solutions provider which now manages in excess of 450 engines for airlines and lessors world-wide valued in excess of US$1.5 billion and has become a major acquirer of aircraft and engines to support its asset management, short term leasing and piece part sales businesses.
Mr Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank SE and Chairman of TES commented, "We have been delighted with the TES business performance since our acquisition of the business in 2007. TES is an integral part of the DVB Aviation Platform and the acquisition has broadened our DVB Aviation franchise as a leading solution provider for all parties involved in financing, operating or investing in aircraft. We are very confident that the business will continue to grow as TES is experiencing substantial demand for its risk management and engineering services products, and in support of these activities is taking advantage of declining asset values to purchase aircraft and engine equipment to support the short term leasing and spare parts sales businesses".
DVB had purchased a majority shareholding in the TES Aviation Group in July 2007, and increased its shareholding in December 2008 as part of an ongoing programme to increase funding facilities of the TES business for the acquisition of aircraft and engines. The TES Aviation Group offers innovative commercial and technical solutions to owners and operators of commercial aircraft engines, and advice in general to the aviation financial community.
Note to Editors:
DVB Bank SE, based in Frankfurt/Main, is the leading specialist in international transport finance. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501) - www.dvbbank.com
Mr Bertrand Grabowski, Member of the Board of Managing Directors of DVB Bank SE and Chairman of TES commented, "We have been delighted with the TES business performance since our acquisition of the business in 2007. TES is an integral part of the DVB Aviation Platform and the acquisition has broadened our DVB Aviation franchise as a leading solution provider for all parties involved in financing, operating or investing in aircraft. We are very confident that the business will continue to grow as TES is experiencing substantial demand for its risk management and engineering services products, and in support of these activities is taking advantage of declining asset values to purchase aircraft and engine equipment to support the short term leasing and spare parts sales businesses".
DVB had purchased a majority shareholding in the TES Aviation Group in July 2007, and increased its shareholding in December 2008 as part of an ongoing programme to increase funding facilities of the TES business for the acquisition of aircraft and engines. The TES Aviation Group offers innovative commercial and technical solutions to owners and operators of commercial aircraft engines, and advice in general to the aviation financial community.
Note to Editors:
DVB Bank SE, based in Frankfurt/Main, is the leading specialist in international transport finance. DVB offers integrated financing solutions and advisory services in respect of Shipping, Aviation, and Land Transport. The Bank operates out of offices in Frankfurt/Main, Hamburg, London, Cardiff, Rotterdam, Bergen/Oslo, Piraeus, Zurich, Singapore, Tokyo, New York and Curaçao. DVB Bank SE is listed at the Frankfurt Stock Exchange (ISIN: DE0008045501) - www.dvbbank.com
TES Aviation Group (founded in 1995 as Total Engine Support Ltd) is an aircraft engine asset management organisation, offering engine management consultancy services, engine disassembly, part-out, and materials procurement, to owners and operators of aircraft engines - www.tes-uk.com
Contacts:
Prof. Dr. Borislav Bjelicic
Head of Corporate Communications
DVB Bank SE
Phone: +49 69 9750 4390
borislav.bjelicic@dvbbank.com
Ashley G. Cooper
CEO
TES Aviation Group
Phone: +44 1656 765201
ashley.cooper@tes-uk.com