SINGAPORE (Apr 22): ST Engineering announced that its Aerospace and Electronics sectors have won new contracts with a combined value of $2.1 billion for 1Q19.
The Aerospace sector secured $1.3 billion in contracts, including the 10-year service agreement from a long-time customer, a major North America operator to provide heavy maintenance checks for its entire fleet of A300 and Boeing 757. This agreement, as announced on 25 February 2019, covers over 160 widebody and narrowbody aircraft to be serviced at the sector’s US facilities in San Antonio and Pensacola, US from 2020.
The Aerospace sector also secured contracts from new airline customers in Africa and Europe to provide component repair services to support their Bombardier Q400. Other contracts cover engine wash and equipment leasing solutions to customers in the Middle East and Europe.
A total of 2,562 engine washes were carried out in 1Q19.
Meanwhile, the Electronics sector has secured $818 million worth of contracts for mobility, satellite communications, Internet of Things (IoT), cybersecurity, public safety and security, and defence.
Some of the global contracts secured in smart rail mobility included the supply of an Automatic Fare Collection System for Bangkok MRT Gold Line, maintenance and enhancement works for Bangkok MRT Purple Line, an Integrated Supervisory Control System for Wuxi Metro Line 3, and a Passenger Information System for Taiwan Railway Authority’s trains.
New rail mobility projects included a mobile communications network for passengers of Downtown Line 3 Extension while new defence projects included engineering support services for communications and sensor equipment.
Shares in ST Engineering closed at $3.85 on Monday.
