GBP ST Engineering Secures Contracts Worth S$1.5b for 2Q2019 - GBP

Home- Maintence Repair & Overhaul-ST Engineering Secures Contracts Worth S$1.5b for 2Q2019

ST Engineering Secures Contracts Worth S$1.5b for 2Q2019

ST Engineering’s Aerospace and Electronics sectors have secured new contracts with a combined value of about S$1.5b for the second quarter (2Q) of 2019.

The contracts are in addition to the $1b contract announced on 24 April for the design and construction of the first Polar Security Cutter for the Department of the U.S. Navy. The contract includes options for two more vessels, which when exercised would bring the total contract value for the three vessels to about $2.6b.

The Aerospace sector received a number of contracts, from airframe to engine MRO services and support. These contracts include a multi-year agreement from a long-time customer to provide heavy maintenance services to their entire fleet of Boeing 717s, agreements from AirAsiaX Berhad and Beibu Gulf Airlines also for heavy maintenance, and a number of agreements for engine maintenance.

The sector gained further traction in its unmanned aerial solutions with a contract win for its latest smart drone system, DroNet, to be applied in security and surveillance missions as an end-to-end solution.

The Electronics sector received new orders globally worth $702m for smart mobility, satellite communications, Internet of Things (IoT), cybersecurity, public safety and security, and defence.

In the U.S, the company’s Training and Simulation business received a contract worth US$95m from the U.S. Army to develop and deliver a unified simulation platform for the Army’s synthetic training environment that meet demands for next generation collective training.

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