Their affiliated training centre presently has a capacity for 550 people - equivalent to 10% of their workforce - at any one time on EASA (not FAA) accredited Part 66 training courses, plus a further 400 people on type-specific training. They've been training their own staff based on an EASA approved German-designed training scheme since 1996, so its not like the desire for certified engineers or their adherence to European training standards is a new thing either.
Does the FAA have an equivalency rule in place for certifications? The crux of this article is not whether or not the EASA is just as good as FAA certification. Its about how the FAA has little to no oversight over maintenance in other countries.
FAA rules and EASA rules are largely the same. The crux of the article is not EASA vs FAA it's more about places outside of both FAA and EASA jurisdiction.
http://www.lufthansa-technik.com/ameco-beijing