Rio de Janeiro, Brazil, 14 April 2015 – ST Engineering, one of Asia’s leading defence and engineering groups, today said that it remains optimistic on its business prospects in Brazil despite a slowdown in the Brazilian economy over the past year. The Brazilian market is of strategic importance to the Group given that it is a gateway to Latin America. Since mid 2013, ST Engineering has invested in three companies to address business opportunities in the country’s defence and commercial sectors.
“In the past two years, ST Engineering has been moving ahead with our plans in Brazil. From our one office in Sao Paolo for business and market development in 2010, ST Engineering now has a local presence in three cities, providing automotive maintenance, repair and overhaul services for military and para-military vehicles, manufacturing of road construction equipment, and offering of urban solutions for the country’s urbanisation programme.” said Mr Patrick Choy, Executive Vice President of International Marketing, ST Engineering. “We believe in localising our business and transferring our technology to build up capabilities to support the Brazilian market.”
Signaling its commitment, ST Engineering has once again expanded its participation at LAAD 2015, the leading Defence and Security International exhibition inLatin America. This year, its booth at G46 Hall 4 is about 20% larger than 2013, continuing a trend which sees the Group’s exhibition scale expanding more than ten-fold since its first show in 2011. LAAD 2015 will also be attended by a contingent of senior management executives, further demonstrating the significant roleBraziloccupies in the Group’s growth plans.
At LAAD 2015, ST Engineering will showcase the strength of its integrated engineering solutions for air, land and sea under three clusters of capabilities – Combat solutions, Connectivity, and Reset & Upgrade -- involving a range of systems and products that have been successfully fielded and deployed around the world.
Mr Choy said, “We are confident we can be a partner to the Brazilian armed forces and help meet their modernisation needs with our engineering expertise spanning the aerospace, electronics, land systems and marine sectors.”
ST Engineering in Brazil
The Group’s land systems arm, ST Kinetics was recently awarded a contract to supply toBrazilits 40mm High Velocity and Low Velocity grenades. This contract reinforces the leading position of the Group’s 40mm ammunition, known globally for its effectiveness and reliability.
Another recent project here was the modernisation programme for the Brazilian Army’s Urutu 6x6 Armoured Personnel Carriers by Technicae, an automotive MRO services company it acquired in mid 2013. Technicae leverages the Group’s expertise in land systems and defence technologies, particularly the Upgrade & Reset solutions to meet the military’s demands for enhanced mobility and firepower.
On the commercial business front, the Group has LeeBoy Brazil, which manufactures and markets the LeeBoyTM brand of road construction equipment it owns in the US. The business has already customised several products, specifically track pavers and asphalt distributors, for the local market and for export to other Latin American markets.
Another subsidiary, ST Electronics Brazil continues to tap on the Group’s electronics sector experience in deploying large-scale solutions such as metro rail electronics and intelligent transportation systems as well as public safety and security systems.
At this time, the Group’s total investment in Brazil is about BRL70m and it employs about 100 Brazilians. ST Engineering is optimistic on the long term prospects of the country, and aims to build a strong partnership with the government, corporations and the people here.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit http://www.stengg.com/ for more information.
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