Singapore Technologies Engineering's aerospace arm, Singapore Technologies Aerospace (ST Aerospace), said yesterday that a unit is to set up a new subsidiary in Kodersdorf, Germany, with a planned equity of €5.5 million (S$8.5 million).
The unit, Elbe Flugzeugwerke (EFW), which is a joint venture between ST Aerospace and the Airbus Group, will set up a new company to produce lightweight components, mainly floor panels and cargo linings, for single-aisle Airbus aircraft. This will supplement EFW's existing production line in Dresden as the firm expands its component production business.
Component production at the new facility, with planned investment of about €40 million, is slated to begin by the first half of 2018. It is expected to create about 100 jobs by the end of 2018.
Global Logistic Properties
Modern logistics facilities provider Global Logistic Properties (GLP) has signed new leases totalling 1.1 million sq ft with five leading companies in China.
The new leased space is mainly related to expansion demand from the organised retail sector, including e-commerce and chain stores, the group said yesterday.
The customers include Cainiao, a data and technology-based logistics platform focused on e-commerce and affiliated to the Alibaba Group; Best Logistics, a leading third-party logistics provider and GLP's largest customer by leased area in China; and a fast-growing fresh food provider serving over 10 million small and medium-sized restaurants across China.
Offshore services provider Ezra Holdings has clinched about US$300 million (S$404 million) in contracts for several new deepwater projects from international oil majors.
It announced yesterday that the projects will be in various offshore oil-producing regions in the Gulf of Mexico, South-east Asia and West Africa. They include the group's largest project in West Africa to date.
The scope of work for these new projects includes project management, engineering, procurement, fabrication, construction and the transport and installation of pipe systems and other equipment.
Project management and engineering work for the projects have already started, said Ezra.