FedEx Express Selects ST Engineering's Aerospace Arm For Aircraft Conversion Contract
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(Singapore, 18 January 2007) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Mobile Aerospace Engineering (MAE), a US facility of its aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace), has signed a Passenger-to-Freighter (PTF) conversion contract with FedEx Express for its Boeing 757-200 aircraft. Commencing in 2007, the contract is for 87 aircraft, implementable in three blocks stretching over seven years.
This contract 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.
Under the agreement, MAE will convert the passenger aircraft to a freighter configuration and perform maintenance. The PTF conversion would be done on a Supplemental Type Certificate (STC) developed and owned by ST Aerospace based on data licensed from Boeing. This includes the installation of a side cargo door, strengthening of the main deck floor, and installation of a rigid cargo barrier and cargo loading system.
"We are honoured that FedEx has selected us for the implementation of its B757 freighter conversion programme. FedEx's decision attests to the value of an STC based on original aircraft design data as well as confidence in ST Aerospace. FedEx is a major customer of ST Aerospace and is supported by ST Aerospace's facilities in the US and Singapore. We look forward to expanding the scope of our support for FedEx as it expands its operations." ~ TAY Kok Khiang, President, ST Aerospace
The award of this contract marks a significant milestone in the relationship between ST Aerospace and FedEx Express. ST Aerospace's US facility MAE opened its hangar doors for FedEx Express' first aircraft about 15 years ago. Since then, through its global network of companies, ST Aerospace has been providing airframes, engines and component maintenance and modification solutions to FedEx Express' fleet of Airbus A300, A310, Boeing 727, MD-10 and MD-11 aircraft. In November 2006, ST Aerospace celebrated the redelivery of the 2,500th aircraft to FedEx Express. The long-standing relationship underscores the strategic role ST Aerospace plays in FedEx Express' maintenance management.
Source : Singapore Technologies Engineering Ltd
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