ST Engineering’s Aerospace Arm Completes Acquisition of Volant Aerospace, LLC
Singapore, 31 December 2012 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to the announcement made on 17 December 2012, Vision Technologies Aerospace Incorporated (VT Aerospace) has completed the acquisition of 100% equity interest in Volant Aerospace, LLC (Volant). The acquisition was completed following the fulfillment of customary conditions precedent.
With a current staff of approximately 60 specialists, Volant provides new and refurbished interior parts and support services to aircraft operators, leasing companies, integrators and maintenance, repair and overhaul (MRO) service providers. Volant will be managed as part of the aerospace sector’s global MRO network, working closely with ST Aerospace’s MRO subsidiaries, affiliates and in-house engineering and development centre, as well as its engineering design specialist, DRB Aviation to offer one-stop turnkey cabin retrofit services.
The acquisition will not 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 visitwww.vt-systems.com.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. 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 management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. 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 revenues of S$5.99b in FY2011 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 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities. Please visit www.stengg.com.
