STEng – BT

ST Aerospace wins $350m worth of deals in last quarter of 2011

SINGAPORE Technologies Aerospace, the aerospace arm of Singapore Technologies Electronics, finished 2011 on a high, bagging $350 million worth of contracts in the last quarter of the year.

ST Engineering said yesterday that the contracts will be carried out at its network of facilities and affiliates in the Americas, Asia Pacific and Europe.

However, they 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.

Between last October and December, the aircraft maintenance and modification business group secured new airframe contracts involving base maintenance, heavy maintenance, passenger-to-freighter (PTF) conversion and interior refurbishment on various commercial and military aircraft platforms.

New component contracts were secured by its component total support business group, which includes Maintenance-By-the-Hour (MBHTM), repair management, avionics and mechanical component maintenance, aerostructures and thrust reverser repair, and landing gear repair and overhaul.

The engine total support business group clinched new engine maintenance contracts. In addition, its leasing joint venture was awarded a contract from Lion Air for the lease of three CFM56-7B engines over 10 years.

ST Aerospace redelivered 101 aircraft for airframe-related maintenance and modification work, five Boeing 757-200 converted freighters to FedEx Express, and serviced 72 engines and 13,382 components for both commercial and military customers.

In October, ST Aerospace’s US$78 million engine maintenance, repair and overhaul (MRO) facility in Xiamen commenced operations, providing MRO and total support for the CFM56-7B and CFM56-5B series of engines.

In addition, the aerospace arm was certified as a Part 147 Maintenance Training Organisation by the Civil Aviation Authority of Singapore and European Aviation Safety Agency, to provide aircraft type training for narrow-body and wide-body aircraft.

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