Singapore, 2 February 2018 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), has streamlined its entities through a short-form amalgamation under Section 215D of the Singapore Companies Act.
With effect from 2 January 2018, Singapore Precision Repair and Overhaul Pte Ltd is amalgamated with ST Aerospace Systems Pte Ltd (STA Systems), which is the surviving entity after the amalgamation. The notice of amalgamation has been received from the Accounting and Corporate Regulatory Authority. Business will continue seamlessly with STA Systems as a subsidiary of ST Aerospace.
This exercise is a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the aerospace sector, and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering with revenue of S$2.49b in FY2016. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO service provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and asset management services, including Total Aviation Support. ST Aerospace has a global staff strength of around 9,000 employees worldwide. Please visit www.stengg.com/en/aerospace for more information.
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