Singapore, 15 October 2018 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its Aerospace sector secured new contracts worth about S$590m in the third quarter (3Q) of 2018 for services ranging from airframe, engine and component maintenance to engine wash.
New multi-year contracts
A number of the contracts secured in 3Q2018 are multi-year agreements, including a 4-year ATR 72 landing gear overhaul agreement from an Asian airline, a 5-year contract extension to maintain the PW4000 thrust reversers and inlets of an European operator’s A300-600 fleet and heavy maintenance agreements from American freight operators.
Redeliveries and capabilities development
The Aerospace sector redelivered a total of 208 aircraft for airframe heavy maintenance and modification work in 3Q2018. Additionally, a total of 11,992 components, 35 landing gears and 45 engines were processed, while 2,644 engine washes were conducted.
The sector continued to expand its aftermarket services in nacelle systems by successfully setting up MRO capabilities for A320’s V2500 and CFM56-5B nacelles. It is currently developing aftermarket capabilities in new-generation flight control and nacelles systems used in aircraft platforms such as Boeing 737MAX and Boeing 777.
In China, the sector expanded its airframe maintenance portfolio when its Guangzhou facility obtained approval from the Civil Aviation Administration of China (CAAC) to carry out base maintenance for the Boeing 767 platform.
The above developments 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.
Note to editor:
From June 2018, we have harmonised the corporate brands of our subsidiaries by using one masterbrand "ST Engineering". We continue to highlight our four business sectors as Aerospace, Electronics, Land Systems and Marine. To find out more, pls visit www.stengg.com/news/masterbrand.
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of S$6.62b in FY2017 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.
The Aerospace sector operates a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe. An integrated aerospace service provider, it offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; as well as aviation materials and asset management services. The sector has a global customer base that includes leading airlines, airfreight and military operators, and is the world’s largest commercial airframe MRO service provider. For more information, please visit www.stengg.com.
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Say Huan Yuan
AVP, Corporate Communications
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