Air Platforms

ST Engineering invests in aerospace

31 March 2014

Singapore Technologies Engineering (ST Engineering) has injected funding into its aerospace business unit to support its planned expansion, the group announced on 28 March.

ST Engineering said it would inject new equity of SGD216 million (USD171 million) into the capital of ST Aerospace, bringing its total share capital contribution in the unit to SGD368.5 million.

A spokesperson told IHS Jane's that the investment is directed at supporting the "general expansion" of ST Aerospace, but did not elaborate.

It is likely that the expansion programme will support the unit's growing efforts to secure maintenance, repair, and overhaul (MRO) contracts in military and commercial aerospace sectors.

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