Singapore Technologies Engineering’s (ST Engineering) land systems business has secured contracts worth over $100 million. The wins were a result of competitive tenders, says the group in a statement dated June 17.
The contracts, which were secured between April and early June this year, were for NATO (or the North Atlantic Treaty Organization) standard 155mm ammunition and 40mm ammunition from European customers. The 155mm ammunition were signed with new customers in Europe, adds ST Engineering.
The company does not usually disclose the monetary value of its defence-related contracts.
"In a world where safeguarding peace is of paramount importance, our defence solutions stand as pillars of strength, ensuring security and stability for nations. These new contracts not only reflect our position as a trusted partner within the NATO community, but also demonstrate our defence expertise in meeting the evolving needs of modern artillery operations,” says Lim Kok Ann, president, land systems at ST Engineering.
According to the company in its 1QFY2024 business update, the defence and public security segment secured new contracts worth $1.65 billion for the quarter, bringing total orders to $27.7 billion.
Shares in ST Engineering closed 6 cents lower or 1.49% down at $3.98 on June 14.
