ST Engineering completes US acquisition for US$506m
Singapore
DEFENCE contractor Singapore Technologies Engineering on Thursday completed its acquisition of an aircraft part maker for US$506 million (S$683 million) in cash.
ST Engineering's US subsidiary Vision Technologies Aerospace Incorporated bought a 100 per cent stake in Maryland-based engine nacelle systems manufacturer MRA Systems from the United States' General Electric, making MRA Systems an indirect wholly owned subsidiary of ST Engineering.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Chinese sellers go to TikTok school to reach buyers abroad
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2