Brazilian Air Force Selects ST Engineering's Aerospace Arm For T56 Engine Overhaul
(Singapore, 9 February 2007) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Aerospace Engines Pte Ltd (STA Engines), a wholly owned subsidiary of its aerospace arm ST Aerospace, has won a contract from the Brazilian Air Force for the overhaul of the engines of its C-130 fleet. The contract is worth US$5.4m (about $8.3m). Under this agreement, ST Aerospace will provide, over approximately 10 months, overhaul services for 12 Rolls Royce T56-A-15 engines which power the C-130 aircraft. The first engine input is expected in 1Q2007.
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.
"The repeat order from the Brazilian Air Force testifies to the quality work and services we have provided them, and we are pleased to continue supporting the Brazilian Air Force for their maintenance needs. We look forward to bringing value to the Brazilian Air Force as we do to our customers, both military and commercial, globally. ~ TAY Kok Khiang, President, ST Aerospace
This agreement is the second contract secured from the Brazilian Aeronautical Commission (CABW), the contracting arm for the Brazilian Air Force. The first contract was secured in 2005 for the overhaul and repair of 12 Rolls Royce T56-A-15 engines, which was subsequently extended to include two additional engines. The total value of the first contract was US$5.2m (about $8.8m).
Source : Singapore Technologies Engineering Ltd
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