ST Engineering’s aerospace arm secures new contracts worth $443m in 1Q2016

Singapore Technologies Engineering reported that its aerospace arm has secured new contracts worth US$443m in the first quarter (1Q) of 2016, for projects ranging from airframe maintenance and cabin interiors, to engine wash, and component repair and overhaul. The 1Q2016 value has taken in Elbe Flugzeugwerke’s new orders for the first time, following the completion of the additional equity interest in the Dresden-based company in February of this year. The total contract value includes the recently announced VIP aircraft interiors contracts, and the four pilot training contracts awarded by the various airlines.