Singapore Technologies Aerospace completes additional investment in Elbe Flugzeugwerke GmbH

Singapore Technologies Aerospace has completed its investment of the additional 20% equity interest in Elbe Flugzeugwerke GmbH (EFW). The investment was completed following the receipt of regulatory approvals and fulfilment of customary conditions precedent. Following this completion, EFW becomes a subsidiary of ST Aerospace, with the latter owning 55% of the shareholding and Airbus Defence and Space GmbH (Airbus) holding the remaining 45%. The additional investment saw the launch of the collaboration in June 2015, between Airbus, EFW and ST Aerospace for the A320/A321P2F passenger-to-freighter (P2F) conversion programmes. This follows a similar collaboration for the A330P2F conversion programmes launched in 2013. EFW, based in Dresden, Germany, has a current staff strength of over 1,000 and annual revenues of over €200m. Apart from being the exclusive supplier for composite flat panels to Airbus for all Airbus aircraft, the company will serve as ST Aerospace’s centre for passenger-to-freighter conversions, aircraft maintenance, repair and overhaul (MRO), as well as engineering services in Europe, leveraging ST Aerospace’s global network, track record and expertise in aircraft MRO and engineering.