ST Engineering's aerospace unit clinches $780m in new orders in 4Q 2013

Singapore Technologies (ST) Engineering's aerospace arm bagged new orders worth $780 million in the fourth quarter of last year, the Singapore-listed company said on Thursday.

The contracts clinched by ST Aerospace range from airframe, component and engine maintenance and to cabin reconfiguration and engine wash.

ST Aerospace also secured a six-year contract with an existing Asian customer for the depot maintenance of its fleet of aircraft, covering airframes, components and engines.

In the fourth quarter last year, the aerospace service provider redelivered 198 aircraft for airframe maintenance and modification work.

Other initiatives implemented in the three months to Dec 31 include a new aircraft leasing business to focus on mid-life to end-of-life aircraft for leasing, conversion and part out, and the establishment of Hondo Aerospace at the South Texas Regional Airport in the United States to venture into green harvesting of aircraft parts, components and engines.