ST Aerospace - Specialist in aerospace engineering and aviation support solution
Singapore Technologies Aerospace Ltd (ST Aerospace) today announced that it has completed the purchase of SAS AB’s (SAS) 28.7% shareholding in ST Aerospace Solutions (Europe) A/S (STA Solutions) for a sum of €28.3m, which was arrived at based on fair market value agreed between both parties. The purchase follows the exercise of a put option by SAS pursuant to the Shareholders’
This acquisition 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.
STA Solutions is currently operated and managed as part of ST Aerospace’s network of aircraft MRO facilities. It operates warehouses and repair facilities located at Copenhagen, Stockholm, Oslo and Stansted. With STA Solutions, STA Systems and STA Supplies, ST Aerospace today is able to provide a more complete Component Total Support solution to customers.
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $5.05b in FY2007. With a market capitalisation of about $9b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies in 21 countries and 35 cities. http://www.stengg.com.
Media Contacts:
Sharolyn Choy
VP / Director, Corporate Communications
ST Engineering
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: sharolynchoy@
Audrey Tan
Head, Corporate Communications
ST Aerospace
Tel: (65) 6380 6152
Fax: (65) 6280 8213
Email: audreytan@stengg.com
