Singapore, 2 October 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace sector’s VIP completion and refurbishment business division based in San Antonio, US has been incorporated as a subsidiary, AERIA Luxury Interiors, LLC (AERIA) by VT San Antonio Aerospace, Inc. (VT SAA) with a paid-up capital of US$1. As an incorporated company, AERIA will tailor its processes to be focused on the completion business, thereby increasing its competitiveness.
With the incorporation, AERIA will also start to operate under its own Part 145 Repair Station certificate issued by the Federal Aviation Administration (FAA) instead of operating under parent company VT SAA’s certificate. Establishing an independent FAA repair certification allows AERIA to streamline its completion process, and expedite its maintenance, refurbishment and completion contracts in the most efficient way possible. At the same time, as AERIA remains a part of VT SAA’s facility and ST Aerospace’s global network, it will continue to leverage and benefit from the synergy in operations and marketing.
Specialising in the completion and refurbishment of both Airbus and Boeing jets, AERIA is located in San Antonio, Texas – the birthplace of large aircraft VIP completion – where it has access to skilled craftsmen, a pool of highly trained engineering talent as well as a cluster of supporting businesses in the region. It recently completed a 14,000-sqft expansion of its facilities with a new cabinet and upholstery shop as well as an additional building for the design, sales and marketing teams complete with a design showroom for an improved customer experience.
The VIP completion and refurbishment business has been building a successful track record since 2012 based on its strong in-house design and outfitting expertise, and completed over 20 various projects including interior refurbishments, heavy maintenance and avionic upgrades for VIP aircraft.
The setting up of the new company 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 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 global staff strength of around 8,000 employees worldwide. Please visit www.stengg.com/en/aerospace for more information.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. It has global presence with offices in Asia, the Americas, Europe and the Middle East and employs about 22,000 employees. Across the globe, its employees bring innovation and technology together to create smart engineering solutions for its customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.68b in FY2016 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index. Please visit www.stengg.com for more information.
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Say Huan Yuan
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