Lufthansa Technik said today it has closed an agreement to acquire the remaining 50 per cent shareholding of Shannon Aerospace.
The aircraft maintenance company, a subsidiary of the German airline, based at Shannon airport is a joint venture between Lufthansa Technik and SR Technics, originally owned by the defunct Swissair.
This makes Lufthansa Technik the sole owner of the Shannon Aerospace. Neither company has released any information about the transaction price.
With its acquisition of the remaining part of Shannon Aerospace, Lufthansa Technik's level of employment in the Republic is now 1,500.
Over 450 employees work in Lufthansa Airmotive Ireland, the aero-engine repair facility in Dublin.
The remaining more than 1,100 are employed in the Shannon region at Lufthansa Shannon Turbine Technologies and Lufthansa Aircraft Painting Shannon as well as in Shannon Aerospace.