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ST Engineering's Aerospace Arm Secures New Contracts Worth $770m in 2Q2016

Singapore, 12 July 2016 Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm has secured new contracts worth $770m in the second quarter (2Q) of 2016, for projects ranging from airframe maintenance and cabin interiors, to engine wash, and component repair and overhaul.

New contracts

Included in the 2Q2016 contracts are line and heavy airframe maintenance for commercial airlines and military operators, as well as cabin interior modifications for various customers. 

For component support, the aerospace sector signed a general trade agreement with an European airline, for the Boeing 787 nacelle component exchange and repairs, while securing landing gear work for a military operator.

Multiple contracts have also been sealed with customers in Asia Pacific, Europe and the US for EcoPower® engine wash services.

Redeliveries for airframe, component and engine MRO

The aerospace sector redelivered a total of 722 aircraft for airframe maintenance and modification work in 2Q2016.  This included the first Boeing 787 C-level maintenance check completed for a regional airline, cabin interior modifications for both VIP aircraft and commercial airliners, as well as an A380 cabin overhaul for a European customer.  Additionally, a total of 11,790 components, 37 landing gears and 29 engines were processed, while 2,643 engine washes were conducted for both commercial and military customers.  187 composite shipsets were delivered to the aircraft OEM in the second quarter of 2016.

Capabilities development

On aircraft capability, the aerospace sector’s airframe facility in Mobile, Alabama added heavy maintenance capabilities for the Boeing 767 aircraft, extending the facility’s range of maintenance services for customers in the region.

Spotlighting freighter conversions, ST Aerospace has completed the preliminary design phase for the Airbus A321P2F (passenger-to-freighter) conversion programme. 

On component MRO, the aerospace sector continued to add new capabilities to support the Boeing 787 operators.  The newly added capabilities cover electrical systems and harnesses.

Separately on aircraft seats design development, ST Aerospace became the first company to receive the Production Organisation Approval from the Civil Aviation Authority of Singapore, 

The above developments 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.

ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of
ST Engineering with a revenue of $2.09b in FY2015.  Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators.  ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and asset management services, including Total Aviation Support.  ST Aerospace has a global staff strength of around 8,000 employees worldwide.  Please visit www.staero.aero.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors.  Headquartered in Singapore, the Group reported revenue of $6.34b in FY2015 and ranks among the largest companies listed on the Singapore Exchange.  It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index.  ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries.  Please visit www.stengg.com for more information.

Media Contacts:        
Lina Poa
SVP, Corporate Communications
ST Engineering
Tel:      (65) 6722 1883
Email:  linapoa@stengg.com

Belinda Ng
VP, Corporate Communications
ST Aerospace
Tel:      (65) 6380 6176
Email:  belindang@stengg.com

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