Singapore, 31 March 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) has injected its pro rata share of $4,032,000 into the capital of its (90:10) joint venture, ST Aerospace Aircraft Seats Pte Ltd, as working capital for its operations.
This injection is part of ST Aerospace’s planned investment for the joint venture, bringing its total investments to $9,324,000.
Based in Singapore and marketed as part of ST Aerospace’s global network for integrated cabin interiors, ST Aerospace Aircraft Seats is responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions.
The capital injection 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 theAmericas, Asia Pacific andEurope, 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 and MSCI Singapore. 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