SINGAPORE - An aerospace unit of Singapore Technologies Engineering has entered into a joint venture with a Japanese firm to explore new solutions for commercial aircraft seats.
ST Aerospace is setting up ST Aerospace Seats with Tenryu Holdings at a planned investment of $29.8 million.
ST Aerospace will own 90 per cent of the joint venture, with Tenryu holding the rest.
The newly set-up unit will be based in Singapore and will look into the end-to-end design and manufacture of economy, business and first-class seats.
ST Aerospace said the new unit will strengthen its aircraft product development capabilities that include aircraft cabin design engineering and product installation.
Tenryu specialises in the development and manufacture of transportation seats for customers in the coach, train and airline industries.
ST Engineering said the new deal is not expected to have any material impact on its net tangible assets and earnings per share for the current financial year.