ST Engineering's Aerospace Arm to Establish Aircraft MRO Facility at Pensacola International Airport
Singapore, 10 September 2014 – Singapore Technologies Engineering Ltd. (ST Engineering) today announced that VT Mobile Aerospace Engineering, Inc (VT MAE) and the City of Pensacola have signed an agreement to set up an aircraft maintenance, repair and overhaul (MRO) facility at the Pensacola International Airport in Pensacola, Florida. This follows the signing of the Memorandum of Understanding in December 2013.
Under the agreement, the City of Pensacola will construct an aircraft hangar complex on 18.66 acres of greenfield land, and lease it to VT MAE for 30 years. The hangar will be able to accommodate two wide-body aircraft, and is expected to be ready for operations in mid 2016.
“We are very happy to bring on board VT MAE, a leading aircraft MRO company which has already made significant contributions to the Gulf Coast region over the last 20 years. The City of Pensacola welcomes VT MAE as we jointly build the aviation industry in Pensacola. We believe this collaboration will bring about a more robust aerospace cluster and create greater business and job opportunities for the people living in Pensacola and Escambia County,” Mayor Ashton HAYWARD, City of Pensacola
“We have played a pioneering role in the development and growth of the aviation industry in the Gulf Coast region in the last two decades, and have been looking for a suitable location to expand our presence and service offerings in this region. Pensacola presented an opportunity for us to add to our capacity with the development of an aircraft MRO facility within the Pensacola International Airport. Its strategic location, good infrastructure, and a dynamic and supportive leadership team, are reasons for our decision to establish our presence in Pensacola. We look forward to creating greater value for our customers, and hope to bring many value-added jobs to the people of Pensacola and Escambia County.” General (USA, Ret.) John G. COBURN, Chairman and CEO, VT Systems
Located in the Brookley Aeroplex in Mobile, Alabama, VT MAE is one of the city’s largest private employers and a premier aerospace company specialising in aircraft maintenance and modifications. It is a subsidiary of Vision Technologies Aerospace Incorporated (VT Aerospace), and marketed as part of ST Aerospace’s MRO network.
VT Aerospace which owns six aerospace operating companies in five locations namely, Burlington, Washington; Mobile, Alabama; New Braunfels, Texas; San Antonio, Texas; and Wethersfield, Connecticut, is a subsidiary of Vision Technologies Systems, Inc. (VT Systems), the US headquarters of ST Engineering.
The agreement is 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.
VT Systems (Vision Technologies Systems, Inc.) is an engineering company providing integrated solutions to the commercial and government markets in the aerospace, electronics, land systems and marine sectors. VT Systems’ innovative solutions, products and services include aircraft maintenance, repair and modification; software solutions in training and simulation; satellite-based IP communications technology; network solutions that integrate data, voice and video; rugged computers and computer peripheral equipment; specialised truck bodies and trailers; weapons and munitions systems; road
construction equipment; and ship design and shipbuilding. Headquartered in Alexandria, Va., VT Systems operates globally and is a wholly owned subsidiary of ST Engineering. Please visit www.vt-systems.com.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering with a turnover of $2.08b in FY2013. 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 $6.63b in FY2013 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 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.
