Singapore, 18 March 2015 – Singapore Technologies Engineering Ltd’s (ST Engineering)
aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace) today announced
that it has signed a joint venture agreement with Tenryu Holdings Co, Ltd (Tenryu) to set
up ST Aerospace Aircraft Seats Pte Ltd (ST Aerospace Aircraft Seats). The joint venture
will have a planned investment of $29.8m. ST Aerospace will own 90% of ST Aerospace
Aircraft Seats’ shares, with the remaining 10% to be held by Tenryu.
Based in Singapore, ST Aerospace Aircraft Seats will be responsible for the end-to-end
design and manufacturing of a range of aircraft seating solutions. The company’s longterm
business roadmap will include a series of economy class, business, as well as first
class seats. It will be marketed as part of ST Aerospace’s global network, working in
tandem with the other network members to deliver an integrated cabin interiors offering.
ST Aerospace Aircraft Seats will leverage both ST Aerospace’s and Tenyru’s rich
experience in the aerospace industry, to produce innovative seating solutions which are
both aesthetically and technically viable.
“With the addition of ST Aerospace Aircraft Seats into our global network, this new joint
venture will allow us to strengthen our foothold in the aircraft product development sphere
and add a new dimension to our integrated cabin interiors offering. Through a single
trusted provider, airline customers will experience streamlined aircraft downtime during
cabin interior reconfiguration, resulting in enhanced operational efficiency.”
~ LIM Serh Ghee, President, ST Aerospace
“This new JV strengthens our partnership with ST Aerospace, with whom we have
established a long-standing relationship over the years. With our combined expertise, we
are confident of carrying on with our tradition to deliver state-of-the-art cabin seating
solutions to customers worldwide.”
~ Norio FUKUNISHI, President, Tenryu Holdings
As a global aviation engineering and MRO leader, ST Aerospace has been steadily
moving up the value chain to provide one-stop cabin interior solutions. This ranges from
aircraft cabin design engineering and product installation; to aircraft modification and
maintenance, engineering and certification.
As a cabin interiors integrator, ST Aerospace has completed cabin refurbishments for both
commercial airlines and VIP customers, as well as turnkey cabin reconfiguration projects
which have led to supplemental type certificates awarded by international airworthiness
authorities. ST Aerospace also entered the product development sphere in 2012 with the
launch of ‘Ergo’ - a comprehensive range of economy class seats jointly developed with
Tenryu Aero Component, with patented designs which are among the lightest seats in its
class.
Tenryu Holdings (Tenryu Holdings Co., Ltd) is a management company for Tenryu Group.
Headquartered in Gifu, Japan, with a revenue of JPY1.97b in FY2013, Tenryu Group
specialises in the development and manufacturing for transportation seats and provides
seats to customers including the Japanese coach manufacturers, train manufacturers and
airlines. The Group reported revenue of JPY15.9b in FY2013. Tenryu Holdings has a
staff strength of 60 employees and Tenryu Group has a staff strength of around 900
employees in Japan.
The setting up of the joint venture 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.
