09 November 2010

ST Engineering's Aerospace Arm Secures S$370m Worth of Airframe Heavy Maintenance Contracts

09 November 2010

The airframe contracts include both civil and military aircraft (photo : STAero)

ST Engineering's aerospace arm, ST Aerospace, has secured about S$370m worth of new airframe heavy maintenance contracts in the third quarter of 2010. These contracts, ranging from three to 12 months, will be fulfilled by its global MRO network of facilities. The contracts value excludes the recent contract awarded by the Republic of Singapore Air Force for the procurement of the Advanced Jet Trainers.

These airframe contracts include heavy maintenance checks, passenger-to-freighter conversions and interior refurbishments on various commercial and military aircraft types, including Airbus A320 and A330, Boeing 737, 747, 757, 767, DC8, DC9, MD10, MD11, C130 Hercules, F16 Falcon, F5 Tiger and Super Puma.

For the period of 1 July to 30 September 2010, ST Aerospace has successfully redelivered 172 aircraft to various customers, for airframe related maintenance and modification work.

This announcement 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.

"As the aviation market continues to be driven by reliability, timeliness and cost efficiency, ST Aerospace will continue to leverage our strong global MRO network and integrated capabilities to add value to our customers worldwide. We will continue to engage our customers to secure new orders as the aviation industry recovers." ~ CHANG Cheow Teck, President, ST Aerospace.

(STEngg)

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