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ST Engineering Completes Acquisition of GE’s Nacelle Unit

: Apr 18, 2019 - : 9:49 am

The Proposed Acquisition of a 100 per cent ownership of Middle River Aircraft Systems (MRAS) was completed at a net consideration of about US$506m (approximately S$683m) in cash, subject to stories-completion adjustments for debt-like items and working capital.

MRAS is now an indirect wholly-owned subsidiary of ST Engineering, whose aerospace capabilities now include the Original Equipment Manufacturer business of high-value nacelle systems and replacement parts. With the inclusion of MRAS, ST Engineering has greatly boosted its network of facilities in the US to support regional and global customers. Its extensive capabilities in the US ranges from services in airframe maintenance, VIP completions and aircraft interior refurbishment to now nacelle design and manufacturing.

The acquisition of MRAS is expected to be earnings accretive for ST Engineering.

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