ST AEROSPACE SECURES S$320M IN CONTRACTS

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By TESTCustomwebLP TESTCustomwebLP January 21, 2011 08:42

ST AEROSPACE SECURES S$320M IN CONTRACTS

ST Aerospace has won S$320m in new maintenance contracts in the fourth quarter of 2010. Ranging from three to 12 months, these contracts will be carried out at its facilities in the Americas, Asia Pacific and Europe. This is in addition to the Maintenance-By-the-Hour (MBHTM) contract awarded by China Airlines announced in November last year.

The Aircraft Maintenance & Modification (AMM) business secured new airframe contracts involving heavy maintenance checks, passenger-to-freighter (PTF) conversions, passenger-to-passenger/cargo (combi) (PTC) conversions and interior refurbishments on various commercial and military aircraft types, including Airbus A300, A320 and A330, Boeing 747, 757, 767, MD10, MD11, L100/C130 Hercules, F16 Falcon and Super Puma.
During the fourth quarter of 2010, ST Aerospace added a two-bay wide-body hangar to the existing six wide-body and seven narrow-body hangar bays at its US facility in San Antonio, Texas, bolstering its global network of MRO facilities. Commissioned in December 2010, the new hangar will serve customers operating and flying into the US.

Besides capacity expansion, ST Aerospace has also been growing its 757-200 aircraft conversion capability offerings. It received two Supplemental Type Certificates for its Boeing 757-200SF PTF conversion programme from the Civil Administration of China (CAAC) and Transport Canada respectively. It also expanded into the commercial market for 757-200 PTC conversion, signing on its first commercial customer, GAP, for a 757-200 PTC conversion for TNT Airways S.A. ST Aerospace will also be working in tandem with the aerospace division of ST Engineering’s US subsidiary, VT Systems, to undertake a PTC conversion programme, for the 757-200 aircraft, for North American Airlines.

The contracts 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.

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By TESTCustomwebLP TESTCustomwebLP January 21, 2011 08:42
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