ST Engineering secures contracts worth $2.1 billion

Darren Wood
By Darren Wood April 23, 2019 15:17

ST Engineering secures contracts worth $2.1 billion

Singapore Technologies Engineering (ST Engineering) has announced its Aerospace and Electronics sectors have secured new contracts with a combined value of about $2.1 billion for the first quarter of 2019.

The group’s aerospace sector received contracts amounting to about $1.3 billion. These include the 10-year service agreement from a long-time customer, a major North America operator to provide heavy maintenance checks for its entire fleet of A300 and Boeing 757.

This agreement, as announced on 25 February 2019, covers over 160 widebody and narrowbody aircraft to be serviced at the sector’s US facilities in San Antonio and Pensacola, US starting in 2020.

The sector also secured contracts from new airline customers in Africa and Europe to provide component repair services to support their Bombardier Q400. Other contracts cover engine wash and equipment leasing solutions to customers in the Middle East and Europe. The sector conducted a total of 2,562 engine washes in the first quarter of 2019.

Meanwhile, the Electronics sector received contracts worth $818 million for mobility, satellite communications, Internet of Things (IoT), cybersecurity, public safety and security, and defence. Global contracts secured in smart rail mobility include the supply of an Automatic Fare Collection System for Bangkok MRT Gold Line, maintenance and enhancement works for Bangkok MRT.

This news follows ST Engineering’s recent purchase of MRA Systems for $506m in cash.

Darren Wood
By Darren Wood April 23, 2019 15:17