Singapore, 12 July 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today updated that further to its announcement made on 20 June 2016, Elbe Flugzeugwerke GmbH (EFW) has completed the incorporation of Aircraft Composites Sachsen GmbH, with an initial paid-up equity of €500,000 (approximately S$765,950).
Based in Kodersdorf, Germany, Aircraft Composites Sachsen will be responsible for the production of lightweight components, mainly comprising floor panels and cargo linings, for single aisle Airbus 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 a revenue of $2.09b in FY2015. 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 a global staff strength of around 8,000 employees worldwide. Please visit www.staero.aero.
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 $6.34b in FY2015 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. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
Tel: (65) 6722 1883
VP, Corporate Communications
Tel: (65) 6380 6176