ST Aerospace renews component contract with LOT Polish Airlines

Aug. 12, 2008 - PRLog -- Singapore Technologies Aerospace Ltd (ST Aerospace) today announced that its subsidiary, ST Aerospace Solutions (Europe) A/S (STA Solutions), has renewed a component supply and reconditioning contract with LOT Polish Airlines.  This contract, effective immediately, is worth €8.7m (about S$18.7m), and covers LOT Polish Airlines’ fleet of seven Boeing 767 aircraft over three years under the ST Aerospace Solutions material supply programme.  ST Aerospace is the aerospace arm of Singapore Technologies Engineering Ltd (ST Engineering).

This contract 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.

“LOT Polish Airlines is pleased to continue the good working relationship with STA Solutions, whose consistently high standards of quality have earned our trust and confidence in our long standing partnership.  We look forward to extending our areas of cooperation together.” ~ Wieslaw WYPYCH, Member of Management Board, Operating & Technical Issues, LOT Polish Airlines

“This contract attests to our belief in maintaining strong relationships with our long time customers.  As STA Solutions has evolved into an independent third party service provider, we are pleased that LOT Polish Airlines has continued to put their trust in us.  We will continue to strive towards providing LOT Polish Airlines and all our customers a better experience to ensure that they remain satisfied customers for the long haul.” ~ TAY Kok Khiang, President, ST Aerospace

LOT Polish Airlines contracted STA Solutions and SAS Technical Services (STS) together in 1989 for similar component services.  Now as an independent provider, operated and managed as part of ST Aerospace’s network of maintenance, repair and overhaul facilities separately from STS, STA Solutions has been once again selected by LOT Polish Airlines as a provider of component services.

One of the oldest airlines in the world, LOT Polish Airlines has its beginnings in 1920s with airline connections from Warsaw.  Today, LOT Polish Airlines serves various destinations in Europe, North America and the Middle East with a fleet of 54 aircraft which include Boeing 767 and 737, Embraer 175, 170 and ERJ 145, as well as ATR aircraft.

ST Aerospace is the aerospace arm of ST Engineering.  Operating a global MRO network with facilities in the Americas, Asia Pacific and Europe, it is the world's largest airframe MRO provider with a global customer base that includes many of the world's leading airlines, airfreight operators and military operators.  ST Aerospace provides a full spectrum of maintenance and engineering services through its two business segments: Aircraft Maintenance & Modification (AMM) and Component & Engine Total Support (CETS).  Its services include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support.  ST Aerospace has a global staff strength of more than 7,000 engineers and technical specialists.  Please visit http://www.staero.aero.

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.

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