Singapore Technologies Engineering (ST Engineering) has concluded its acquisition of US aerospace firm MRA Systems (MRAS) from GE Aviation, a subsidiary of General Electric.
ST Engineering said on 18 April that the acquisition – channelled through its US subsidiary, Vision Technologies Aerospace Incorporated – was completed at a net consideration of about USD506 million in cash, subject to post-completion adjustments for debt-like items and working capital.
MRAS becomes a wholly owned subsidiary of Vision Technologies Aerospace Incorporated.
ST Engineering said the acquisition will “greatly boost” its network of facilities in the United States to support regional and global customers. “[ST Engineering’s] extensive capabilities in the US range from services in airframe maintenance, VIP completions and aircraft interior refurbishment to now nacelle design and manufacturing,” it said.
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