ST Engineering's Aerospace Arm Receives Court Approval for Acquisition of PEMCO's Tampa Facility and Certain Assets of PEMCO

VT Aerospace has received approval from the U.S. Bankruptcy Court in the District of Delaware to acquire the Tampa aerospace maintenance facility and certain assets of PEMCO, including the Boeing 737 freighter conversion STCs.


Singapore, 18 June 2012 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to our announcement on 8 June 2012, Vision Technologies Aerospace Incorporated (VT Aerospace) has received approval from the United States Bankruptcy Court in the District of Delaware to acquire the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services Inc. (PEMCO), including the Boeing 737 freighter conversion Supplemental Type Certificates.

This acquisition is subject to regulatory approvals and customary conditions precedent, and
is anticipated to close in July 2012.

VT Aerospace (Vision Technologies Aerospace Incorporated) is the aerospace operations
of VT Systems (Vision Technologies Systems, Inc.). A leading aerospace maintenance and
engineering division specialising in aircraft engineering design, maintenance and modification, it owns four aerospace operating companies in Mobile, Alabama; San Antonio, Texas and Hartford, Connecticut. It is one of the largest private employers in Mobile, and the largest private independent MRO employer in San Antonio.


VT Systems (Vision Technologies Systems, Inc.) is an engineering company providing
integrated solutions to the commercial and government markets in the aerospace,
electronics, land systems and marine sectors. VT Systems’ innovative solutions, products
and services include aircraft maintenance, repair and modification; software solutions in
training and simulation; satellite-based IP communications technology; network solutions
that integrate data, voice and video; rugged computers and computer peripheral equipment;
specialised truck bodies and trailers; weapons and munitions systems; road construction
equipment; and ship design and shipbuilding. Headquartered in Alexandria, Va., VT Systems
operates globally and is a wholly owned subsidiary of ST Engineering. Please visit www.vtsystems.com.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering
group providing solutions and services in the aerospace, electronics, land systems and
marine sectors. Headquartered in Singapore, the Group reported revenues of S$5.99b in
FY2011 and ranks among the largest companies listed on the Singapore Exchange. It is a
component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore
and other indices. ST Engineering has more than 22,000 employees worldwide, and over
100 subsidiaries and associated companies in 23 countries and 41 cities. Please visit
www.stengg.com.

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