Boeing Selects ST Engineering's Aerospace Arm For 767-300BCF Conversion
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(Singapore, March 7, 2007) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Aviation Services Company Pte Ltd (SASCO), a wholly-owned subsidiary of its aerospace arm, ST Aerospace, has been selected by Boeing to perform certain passenger-to-freighter (PTF) conversion under the 767-300 Boeing Converted Freighter (BCF) programme. The contract is estimated to be worth US$136m (about $208m) over 10 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 its contract, SASCO will perform aircraft maintenance and the passenger-to-freighter conversion with data provided by Boeing. The 767-300BCF conversion entails the removal of passenger interiors equipment and furnishings, installation of a main deck side cargo door, replacement or strengthening of the main deck floor structures, installation of a 9-G rigid cargo barrier and a new cargo handling system, as well as other systems changes.
ST Aerospace will induct the first aircraft from ANA, Boeing's launch customer for this programme, at its SASCO facility in Singapore for conversion in October 2007, and the prototype is expected for redelivery in June 2008, upon FAA certification.
"We are pleased to appoint ST Aerospace to undertake conversion work as part of the 767-300BCF programme. Building on our excellent partnership with ST Aerospace which resulted in successful conversions for 757-200SFs, DC-10s, MD-10s and MD-11s, I am confident that ST Aerospace will continue to support Boeing in delivering a converted freighter that is economical to maintain and operate." Marco CAVAZZONI, Vice President, Freighter Conversions, Boeing Commercial Airplanes
"We are honoured that Boeing has selected us once again for participation in its freighter conversion programme on the back of our previous successful collaborations. One of them is the ongoing MD-11 conversion programme, which has been a successful programme with most of the passenger aircraft converted to a freighter configuration by 2009. Today's contract further attests to the longstanding relationship we share with Boeing and one that ST Aerospace values. We are also pleased that the launch customer will be ANA, which is also a long time customer of ST Aerospace. We will continue to leverage on our engineering and modification capabilities to bring greater value to Boeing's customers globally." TAY Kok Khiang, President, ST Aerospace
Source : Singapore Technologies Engineering Ltd
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