ST Aerospace completes EADS EFW investment

This story is sourced from Pro
See more Pro news »

Singapore-based MRO provider ST Aerospace has completed its investment for a 35% stake in EADS EFW, after obtaining regulatory approvals and fulfilling customary conditions.

This follows an announcement made in May 2012, where ST Aero said it would pay €111 million ($150 million) to subscribe to new shares in the Dresden-based company, which is also the main EADS passenger aircraft conversion facility.

With the completion of this investment, the engineering development phase of the Airbus A330 passenger-to-freighter programme will begin in February, says ST Aero.

As part of the agreement, EADS EFW's facility in Dresden will become ST Aero's European MRO centre. The facility also manufactures and supplies composite flat sandwich panels to Airbus.