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.