February 27, 2015 – Zurich, Switzerland: At SR Technics, we continually review our business plans, taking into consideration the longer term prospects for the MRO market as well as the wider economic environment.

SR Technics is recognized as one of the most long-standing and respected MRO providers on the continent, and our global customer base has come to rely on the high level of service we provide. However, a range of factors – including the impact of currency fluctuations and the high cost of providing certain services from our Swiss base – are requiring us to adapt in order to meet the evolving needs of our customers.

As a result of current economic factors and the changing dynamics of the MRO market, SR Technics will commence a consultation process in relation to up to 250 current and open administrative positions in Zurich over the next twelve months. At the same time SR Technics will establish a business process center located in Belgrade, Serbia.

Today’s action will only strengthen the sustainability of providing our core services to customers while prudently managing our cost base. We have done this successfully in the past by establishing centers of service in Malta and Malaysia.

We look forward to continue providing service to our customers and positioning SR Technics as a leader in this industry.