ST Aerospace secures new long-term contracts worth S$650m in Q2

AEROSPACE and defence conglomerate Singapore Technologies Engineering (ST Engineering) announced on Monday that its aerospace arm, Singapore Technologies Aerospace (ST Aerospace), had secured new contracts worth about S$650 million in the second quarter of 2017.

The completed contracts were for long-term services including heavy airframe and engine maintenance, component repair and overhaul, and freighter conversion.

In a Singapore Exchange filing, ST Engineering said the aerospace sector redelivered 862 aircraft for airframe maintenance and modification work in the quarter.

A total of 11,035 components, 48 landing gears and 33 engines were processed, while 2,613 engine washes were also conducted.

It also said that ST Aerospace was continuing to build its capabilities by expanding its facilities and developing its aircraft seats business.

ST Engineering shares on Tuesday rose by four Singapore cents or 1.08 per cent to close at S$3.73.