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ST Aerospace bags S$510m in new contracts for Q1 2018

THE aerospace arm of Singapore Technologies Engineering (ST Engineering) announced on Wednesday it has secured some S$510 million in new contracts - ranging from heavy maintenance to engine wash - for the first quarter of 2018.

ST Aerospace was awarded the heavy maintenance contracts by "North American operators" to support their Boeing 757 and 767 fleet, ST Engineering announced in a media statement.

For the Boeing 787, ST Aerospace said it had received its first order for component support on that aircraft's thrust reverser's translating sleeve.

The company has also been awarded contracts from a number of customers for its EcoPower engine wash solution, which ST Aerospace said has been expanded to include engine manufacturer CFM International's LEAP engine.

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In other areas, ST Aerospace also announced that during the first quarter, it had set up maintenance, repair and overhaul (MRO) capabilities for the Airbus A320's engine nacelles, and one of its airframe maintenance subsidiaries clinched the AS9110 certification, an international standard for quality management.

Overall, the company had re-delivered 1,188 aircraft for airframe maintenance and modification work in Q1 2018. "A total of 9,311 components, 40 landing gears and 34 engines were processed, while 2,332 engine washes were conducted," said the company's media release.

It added the developments above were not have expected to have any material impact on ST Engineering's consolidated net tangible assets per share and earnings per share for the current financial year.

The counter closed unchanged on Wednesday at S$3.65 apiece.