ST Aerospace pulls out contracts worth $370 Million

Singapore Technologies Aerospace declared that it has obtained new contracts worth $370 million for aircraft maintenance and modification, component total support and engine total support businesses in the Q2 of 2012.

ST Aerospace resupplied 157 aircraft for airframe maintenance and modification work and six converted freighters to various customers from April to June. It has also serviced 8,136 components and 78 engines for both commercial and military customers. In June, Vision Technologies Aerospace Inc an affiliate of ST Aerospace has secured approval from the U.S. Bankruptcy Court to acquire the Tampa aerospace maintenance facility and certain assets of Pemco World Air Services Inc., in a deal for $49.7 million. The transaction is schedule tor completion in July. VT Aerospace also completed the acquisition of its 50.1 percent stake in EcoServices LLC, becoming a partner to Pratt & Whitney in the joint venture, and finalized the agreement with Airbus, EADS and EADS EFW on the A330 passenger-to-freighter conversion program.