ST Engineering's Aerospace arm liquidates Madrid Aerospace Services

Singapore Technologies Engineering (ST Engineering) aerospace arm, Singapore Technologies Aerospace (ST Aerospace) announced that its 50%-owned associated company, Madrid Aerospace Services has been liquidated. Consequently, Madrid Aerospace Services has ceased to be an associated company of ST Aerospace. The liquidation of Madrid Aerospace Services, which is based in Madrid, Spain, is the result of an ongoing business review on the Group’s landing gear strategy to streamline capabilities and optimise resources within the aerospace sector. Madrid Aerospace Services is a joint venture between ST Aerospace and Iberia Maintenance, the technical division of Spain’s Iberia Airlines. Located in Madrid, Spain, the business specialises in the repair and overhaul of landing gear systems and components.