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ST Electronics wins S$424m contracts in Q2 2015
SINGAPORE Technologies Engineering (ST Engineering) announced on Monday its electronics arm secured S$424 million worth of contracts in the second quarter of this year.
ST Electronics won S$285 million worth of advanced electronics and infocomm technology contracts for projects from both public and private sectors, ST Engineering said. These projects will be completed progressively over the next six years.
Under satellite and broadband communications, ST Electronics won contracts totalling S$84 million from government, telecom and enterprise users worldwide for the supply of satellite network equipment, earth stations and man-pack terminals, it said.
In addition, it won rail electronics and intelligent transportation contracts of about S$55 million from clients in China, India, the Middle East, and North and South America, as well as Taiwan. The projects are for command, control and communications and passenger information systems, as well as surveillance systems and fleet management solutions. Work has commenced for these projects and will be carried out progressively until end-2020.
"We continue to work closely with customers to identify future needs that will help shape the road maps of our future products and solutions," said ST Electronics president Lee Fook Sun. "One area that is gaining increasing importance is our Smart City solutions. In this regard, we are happy to report that our Galaxy M2M Communications System has gained the acceptance of customers in USA, UK, New Zealand and Israel."