ST Aerospace wins new contracts worth S$410 million in Q3

SINGAPORE - ST Aerospace has secured new contracts worth S$410 million in the third quarter of 2015 for projects ranging from airframe and component maintenance, to engine wash and pilot training, the company announced on Monday (Oct 12).

The company, the aerospace arm of Singapore Technologies Engineering Ltd, has bagged contracts to handle heavy airframe maintenance agreements for various Boeing777-300 and Airbus A319/A321 aircraft of a US airline, and cabin interior modification of A319 of another carrier.

The firm also received a six-year contract extension for providing maintenance-by-the hour support for a fleet of Q400 for an airline based in Europe, Middle East and Africa.

Separately, its Hondo-based facility was awarded an aircraft part-out contract for two 757-200 aircraft. In terms of engine support, multiple contracts have been sealed with customers in Asia Pacific and the US for EcoPower engine wash services.

The aerospace sector redelivered a total of 349 aircraft for airframe maintenance and modification work in the third quarter, while its airframe facility in Singapore started line maintenance for an existing customer's Boeing 787 fleet.

"The above developments are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year," the company said in a release.