Singapore, 14 June 2013 – ST Aerospace announced today that it has injected an additional $62,945,000 into the capital of its wholly owned subsidiary, ST Aerospace Engines Pte Ltd (STA Engines). This brings ST Aerospace’s total share capital contribution in STA Engines to $117,945,000.
The capital injection was effected through a conversion of loans totalling US$50m (about S$62.95m) previously extended by ST Aerospace to STA Engines. The loan was part of the funding to support the expansion of engine total support business.
The capital injection is 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.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 9,000 engineers and technical specialists. Please visit www.staero.aero.
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The contracts are for airframe, component and engine maintenance and engineering design support, which will be carried out through its global network.