Singapore, 20 May 2015 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that Vision Technologies Aerospace Incorporated (VT Aerospace) has injected US$2.06m (approximately S$2.72m) and US$995,000 (approximately S$1.31m) into the capital of its wholly owned subsidiaries, Aviation Academy of America, Inc (AAA) and VT Aviation Services, Inc (VTAS) respectively. This would bring VT Aerospace’s total investments in AAA and VTAS to US$2.86m (approximately S$3.78m) and US$996,000 (approximately S$1.32m) respectively.
Vision Technologies Systems, Inc has also injected US$3.05m (approximately S$4.03m) into the capital of VT Aerospace, as funding of the capital injection into AAA and VTAS.
Marketed as part of ST Aerospace’s global network, AAA works in tandem with ST Aerospace's commercial pilot training academy, to offer an integrated suite of pilot training services to customers around the world.
These capital injections are 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.
VT Systems (Vision Technologies Systems, Inc.) is an engineering company providing integrated solutions to the commercial and government markets in the aerospace, electronics, land systems and marine sectors. VT Systems’ innovative solutions, products and services include aircraft maintenance, repair and modification; software solutions in training and simulation; satellite-based IP communications technology; network solutions that integrate data, voice and video; rugged computers and computer peripheral equipment; specialised truck bodies and trailers; weapons and munitions systems; road construction equipment; and ship design and shipbuilding. Headquartered in Alexandria, Va., VT Systems operates globally and is a wholly owned subsidiary of ST Engineering. Please visit www.vt-systems.com.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering with a revenue of $2.07b in FY2014. 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 $6.54b 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 www.stengg.com for more information.
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