ST AEROSPACE RESTRUCTURES ITS SCANDINAVIAN BUSINESS

ST Aerospace today announced that it has embarked on a restructuring programme involving the Scandinavian operations of its wholly owned subsidiary, ST Aerospace Solutions (Europe) A/S. This restructuring is necessary, given the continued challenging aviation landscape in Europe, marked by weak domestic travel and cargo demand in the region. Given these market conditions, ST Aerospace needs to take steps to manage its cost structure and work processes in order to maintain its position in the European market. ST Aerospace Solutions will streamline the utilisation and workflow of its three facilities in Copenhagen, Denmark; Oslo, Norway as well as Stockholm, Sweden.