Singapore Technologies Engineering Ltd (ST Engineering) has said its Aerospace and Electronics sectors have secured new contracts with a combined value of about $1.8 billion for the third quarter of 2019.
The Aerospace sector secured various contracts amounting to $1 billion across its spectrum of aviation manufacturing and services businesses.
These include contracts ranging from nacelle component and floor panel manufacturing to aircraft airframe and helicopter MRO support services. Among the new multi-year MRO contracts is a 10-year agreement to work with Airbus Helicopters starting in early 2021 to support the scheduled maintenance, inspection and on-demand repairs of a substantial part of the German Armed Forces’ NH90 fleet.
Other contracts include a five-year extension agreement for airframe maintenance from an A380 operator, and a seven-year agreement to provide component Maintenance-By-the-Hour support to an operator’s fleet of Boeing 737NGs.
Contracts by the Electronics sector worth about $833 million including monies for satellite communications (satcom), mobility, public safety and security, Internet of Things (IoT), training and simulation, cybersecurity and defence.
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.