(Source: ST Engineering)
12:00 AM, November 27, 2008
ST Engineering's Aerospace Arm Wins US$51m C-130B Retrofit Contract From Indonesian Air Force
SINGAPORE --- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), has been awarded a US$51 million (about S$75m) contract to perform maintenance and modification on four C-130B aircraft for the Indonesian Air Force (IAF). The programme commences immediately and is expected to be completed over 30 months. The work will be performed by ST Aerospace's subsidiary, ST Aerospace Engineering Pte Ltd (STA 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. "We are pleased that the Indonesian Air Force has selected us for this programme. We have previously provided services to IAF, and the continued endorsement through this new contract demonstrates its satisfaction with our quality proposition. With our extensive experience on the C-130 and our performances in serving leading air forces and airlines around the world, we look forward to bring value to the IAF and meet its expectations," said Tay Kok Khiang, President, ST Aerospace. 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 aircraft MRO provider with a global customer base that includes many of the world's leading airlines, airfreight operators and military operators. 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.