Magnetic Group expands to USA, opening new office and hub in Miami, Florida
News & Press
Magnetic Group is launching their new representative office and hub in Miami, Florida (USA). Magnetic Trading and EngineStands24 are the first group brands to establish apresence in the region.
A significant part of Magnetic Group sales originates from the Americas. Over the past years, the company has been trading large assets within the region, and Magnetic Leasing, a brand which provides asset management and leasing solutions, is born from a Joint Venture with a US based investment fund. Therefore, it is logical next step for Magnetic Group to also have a physical presence in America.
“There is a lot of potential in this market – and we already have extensive experience working with clients around the region. Thus, the new office launch is just a natural step forward - and we are ready to support customers locally with comprehensive spare parts solutions, product lines and build Magnetic Trading brand awareness in the region,” said Airina Kacienaite-Krake, Head of Magnetic Trading.
The Miami-based team will focus on the introduction of Magnetic Trading services in the local market, including spare parts and components solutions, a total asset management program and repair management, while providing local airlines with scheduled and AOG spare parts supply.
Additionally, airlines and asset owners will be able to lease engine stands from the Miami hub using the recently launched EngineStands24 platform – currently, engine stands for CFM56-7B, CFM56-5A/B and V2500 engines will be available for lease from USA with the company planning to expand the portfolio throughout the year.
“The hub in the USA improves geographic accessibility to our engine stands pool. We already offer a seamless lease process via our digital channel and having stands located in USA gives us – and our customers – even more flexibility and agility”, added Daiva Zemaite, Head of EngineStands24.
Other brands, including Magnetic Engines, are also planning to scale to USA and join the representative office during the year. Currently, Magnetic Group and its brands operates at over thirty locations worldwide, including Tallinn (Estonia), Amsterdam (the Netherlands), Dubai (UAE), Kuala Lumpur (Malaysia), and now Miami (USA).