50 SKY SHADES - World aviation news

ST Engineering’s Aerospace Arm Secures New Contracts Worth about S$1.11b in 1Q2017

Download: Printable PDF Date: 17 Apr 2017 10:13 categories:
Publisher:
ST Engineering’s Aerospace Arm Secures New Contracts Worth about S$1.11b in 1Q2017 - Finance publisher
Tatjana Obrazcova
Country: Singapore Aircraft: Airplanes

Singapore Technologies Engineering Ltd (ST Engineering) announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), secured new contracts worth about S$1.11b in the first quarter (1Q) of 2017 for services ranging from line and heavy airframe maintenance to component repair and overhaul.

The 1Q2017 contracts include performance-based logistics operation and support for military aircraft, several components repair and overhaul agreements, and contracts for EcoPower® engine wash services. Among these contracts are several multi-year renewal agreements.

Redeliveries and capabilities development
The aerospace sector redelivered a total of 836 aircraft for airframe maintenance and modification work in 1Q2017. Additionally, a total of 11,021 components, 65 landing gears and 38 engines were processed, while 2,292 engine washes were conducted.

ST Aerospace expanded its MRO capacity in China during the quarter when its airframe MRO station in Guangzhou opened its second hangar, which can accommodate two wide- body and two narrow-body aircraft simultaneously. With the new hangar which has 500,000 manhours in capacity when it reaches steady state, the Guangzhou MRO facility will be able to have 1,000,000 manhours in capacity in total.

In Germany, ST Aerospace expanded its capacity in aircraft component manufacturing when its subsidiary Elbe Flugzeugwerke broke ground for a new facility in Kodersdorf, Saxony. When completed, the facility will add 200,000 composite panels production capacity per annum which will help meet rising demand from the growing A320 and A321 Airbus fleet.
As for new capabilities, ST Aerospace made further progress in developing its aircraft seats business when it received AS9100 Quality Management System certification, a Quality Management Systems standard for the aerospace industry, from certification body, DNV GL for its in-house designed aircraft seats.

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.



Loading comments for ST Engineering’s Aerospace Arm Secures New Contracts Worth about S$1.11b in 1Q2017...


Recommended

GECAS Places $2.9 billion CFM LEAP-1A engine order

GE Capital Aviation Services (GECAS), the aviation leasing and financing arm of GE announced a firm order for 200 CFM International LEAP-1A engines to power new Airbus A320neo family aircraft. CFM...

Airbus launches Skywise – aviation’s open data platform

 Combining Airbus’ aerospace expertise with Palantir’s advanced data analytics solutions; To become the platform of reference used by the aviation industry; Enabling Airbus to...

Tokyo Metropolitan Police Department becomes Japan’s first H215 operator

The Tokyo Metropolitan Police Department (MPD) has signed a contract for one H215, making it the first operator in Japan to operate the rotorcraft when it is delivered in 2020.  Currently operati...

SIA Engineering Company and GE Aviation to form Engine Overhaul Joint Venture

SIA Engineering Company Limited (“SIAEC”) and GE Aviation (“GE”) have agreed to establish a new engine overhaul joint venture based in Singapore. The joint venture will provide...