ST Aero signs contracts worth S$430m in Q2

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ST Aerospace signed contracts worth about S$430 million ($341 million) in the second quarter of 2013, for airframe, component and engine maintenance as well as VIP interior modifications.

The total contract value includes the S$32.3 million component maintenance-by-the-hour contract with Spring Airlines Japan as well as the five-year multi-crew pilot licence training contract with Qatar Airways, says the MRO company.

In the VIP cabin reconfiguration business, ST Aero secured three deals involving Boeing Business Jets.

In the second quarter, it redelivered a total of 185 aircraft for airframe maintenance and modification work.

In addition, ST Aero also embarked on three new initiatives recently. The company has signed two long-term agreements with UTC Aerospace Systems for the Boeing 787.

In the first deal, ST Aero will provide MRO services on the nacelle systems for both the Rolls-Royce Trent 1000 and General Electric GEnx engines and the other contract relates to the provision of MRO services for the Hamilton Sundstrand components.

The second initiative involves the launch of a 16-month development effort to enhance its current suite of Boeing 757 freighter conversion solutions.

Lastly, the third sees ST Aero San Antonio acquire almost all the assets of Turbo Mach, a designer and manufacturer of composite components and assemblies for the aerospace industry.