ST Engineering Secures Contracts Worth $1.5b for 2Q2019
Singapore Technologies Engineering Ltd (ST Engineering), a global technology, defense and engineering group today announced that its Aerospace and Electronics sectors have secured new contracts with a combined value of about $1.5b for the second quarter (2Q) of 2019. This is in addition to the $1b contract announced on 24 April for the design and construction of the first Polar Security Cutter for the Department of the U.S. Navy. The contract includes options for two more vessels, which when exercised would bring the total contract value for the three vessels to about $2.6b.
The Aerospace sector received a number of contracts, from airframe to engine MRO services and support. These contracts include a multi-year agreement from a long-time customer to provide heavy maintenance services to their entire fleet of Boeing 717s, agreements from AirAsiaX Berhad and Beibu Gulf Airlines also for heavy maintenance and a number of agreements for engine maintenance.
The sector gained further traction in its unmanned aerial solutions with a contract win for its latest smart drone system, DroNet, to be applied in security and surveillance missions as an end-to-end solution.
The Electronics sector received new orders globally worth $702m for smart mobility, satellite communications, Internet of Things (IoT), cyber security, public safety and security, and defense. A key new win by its smart mobility business was for the provision of rail electronics solutions including train-borne communications, Platform Screen Doors (PSD), Automatic Fare Collection (AFC) and Supervisory Control and Data Acquisition (SCADA) systems to Taiwan’s Taoyuan MRT Green Line. The business also delivered a Maintenance Management System to China’s Foshan Metro Line 2 and Gaoming District Tram.
In Singapore, the Electronics sector continued to help customers realize their Smart City initiatives by transforming their operations through automation and digitization. Contracts were secured for the installation of smart indoor lighting control solutions to maximize energy savings and operational efficiency in residential estates and car parks. The sector also received a contract from PSA to develop an advanced Command Center that enables digitization, automation and intelligent decision-making for Tuas port operations.
In the U.S, its Training and Simulation business received a contract worth US$95m from the U.S. Army to develop and deliver a unified simulation platform for the Army’s synthetic training environment that meet demands for next generation collective training.
In addition to these contracts, the Group has other contract wins by its other business sectors not disclosed in this announcement due to customer confidentiality.
